Kraken, the cryptocurrency exchange, has announced that it's expanding its Kraken Custody services for institutional clients in the United Kingdom and Australia. The blog post says that the expansion into the UK and Australia is all about giving new and existing institutional clients outside the US a secure digital asset custody product. This is the first time Kraken Custody is being launched internationally, following its success in the US earlier this year.
Kraken Custody expansion
In the official post, Kraken says that institutions need a custody solution that lets them store, manage and scale their strategies. We caught up with Tim Ogilvie, Kraken’s global head of institutional, to chat about the company’s expansion plans. He told us that expanding to the UK and AU was a “natural choice” for Kraken Custody. We’re planning to expand to more locations soon, including the European Union, Switzerland, the Cayman Islands and the British Virgin Islands. Kraken Custody is a service from Kraken that lets institutions store and access digital assets. It helps them stick to the rules while getting into the crypto market. Ogilvie also told us that Kraken Custody is protected by protocols built by the team’s in-house cybersecurity experts. Accounts come with MPC technology and HSMs for key storage and policy enforcement. This gives clients more flexibility and timely access to their assets while keeping their assets safe and secure.
