In an official communication, the US-based crypto exchange Kraken was pleased to announce the official launching of a new division dubbed Kraken Institution. The Kraken team confirmed that the new institutional division will offer world-class services and products to institutional clients.
The new division will focus on meeting the needs of institutional client hedge funds, asset managers, and wealthy crypto investors.
Role of Kraken Institutional
The primary objective of the new division is to offer end-to-end solutions to institutional clients. During the launch of Kraken Institutional, the crypto exchange confirmed that the new division would offer reliable, scalable, and convenient solutions for institutional clients.
Besides introducing new products, the new division will allow institutional clients to explore various existing products and services, including staking rewards, OTC trading, and others that blend with their needs.
To ensure the Kraken Institutional arm attains the core objective, the crypto exchange will deploy advanced cybersecurity tools to protect the customer’s funds. Also, the new department will be supported by the Kraken account management team and support group.
The new unit was launched at a time when Kraken had gained popularity as a reputable and reliable crypto exchange.
Kraken Seek to Meet Need for Institutional Clients
Currently, Kraken ranks among the high-profile crypto exchanges with adequate liquidity. For nearly a decade, the Kraken team has invested in improving service delivery. The Kraken team has entrenched a world-class customer relationship to offer “white glove treatment” to diverse users.
An announcement conveyed by the chief executive of Kraken, David Ripley, revealed that the crypto exchange values offering high-quality products. The CEO confessed that the Kraken team has been striving to provide the user first experiences.
Having been well positioned in the vibrant crypto industry for nearly a decade, the CEO believes that the new division will meet the ever-changing needs of institutional investors. Ripley vowed to lead the Kraken Institutional team in offering cutting-edge solutions to the traders.
Elsewhere, the newly appointed head of Kraken Institutional, Tim Ogilvie, argued that the needs of institutional clients compelled the crypto exchange to prioritize offering reliable, scalable, and easy-to-integrate solutions.
Based on his vast expertise in crypto, Ogilvie assured the community that Kraken would meet and surpass the institutional client expectations. Ogilvie co-founded the fast-paced noncustodial staking platform Staked before Kraken acquired it in 2018.
His appointment as the head of Kraken Institutional arm propels Ogilvie’s career to excellence. In his statement, the official will work closely with the most experienced engineers, award-winning product development experts, and traders.
The executive noted that the endless benefits of crypto assets have captivated the interest of institutional clients and wealthy investors. Ogilvie was pleased to state that crypto adoption among institutional investors was rising.
Driven by the desire to meet the customer’s needs, the executive believes that the launching of Kraken Institutional will enable the crypto exchange to attain a sustainable customer base.
Increased Demand For Crypto Assets Among Institutions
Reflecting on the impact of the approval of Bitcoin exchange-traded funds (ETF) on the crypto market, Olgivie noted an exciting demand for crypto among institutional investors. He remains optimistic that the Kraken Institutional will attain its growth stage earlier than expected.
The executive envisages the Kraken Institutional will bring positive outcomes to the company and the institutional clients. In his statement, the executive confirmed that the crypto exchange will launch a qualified custody supported by Kraken Financial.
The launch of the Kraken Institutional is expected to compete with top-tier exchanges offering crypto assets to institutional clients. In 2021, Kraken’s top rival, launched Coinbase Institutional and Coinbase Prime to meet the needs of institutional clients.
Months after Coinbase launched the new division for institutional customers, Binance introduced a new arm. The Binance Institutional aimed to provide customized solutions to institutional clients, brokers, hedge funds, liquidity providers, and asset managers.
All trademarks, logos, and images displayed on this site belong to their respective owners and have been utilized under the Fair Use Act. The materials on this site should not be interpreted as financial advice. When we incorporate content from other sites, we ensure each author receives proper attribution by providing a link to the original content. This site might maintain financial affiliations with a selection of the brands and firms mentioned herein. As a result, we may receive compensation if our readers opt to click on these links within our content and subsequently register for the products or services on offer. However, we neither represent nor endorse these services, brands, or companies. Therefore, any disputes that may arise with the mentioned brands or companies need to be directly addressed with the respective parties involved. We urge our readers to exercise their own judgement when clicking on links within our content and ultimately signing up for any products or services. The responsibility lies solely with them. Please read our full disclaimer and terms of use policy here.