Market News

Crypto Institutions Gain a New Ally as Kraken Launches Comprehensive Prime Brokerage Service

Global cryptocurrency exchange Kraken has recently introduced a new prime brokerage service tailored for institutional traders in the crypto space.

This service, dubbed Kraken Prime, provides access to liquidity that encompasses over 90% of the digital asset market across more than 20 global venues.

Additionally, it offers around-the-clock support from a dedicated team of experienced account managers.

Trades can be executed directly from custody managed by Kraken Financial, a licensed U.S. bank, enhancing security for institutional clients.

The platform includes features such as asset-backed lending, T+1 credit facilities, and a sophisticated smart order routing system for effective liquidity integration.

Kraken's approach resembles that of traditional prime brokers in equities, aiming to meet the needs of large exchanges and digital asset brokerages.

David Ripley, co-CEO of Kraken, emphasized that the firm aims to exceed the expectations of traditional finance in terms of execution quality and service depth.

He noted that while Kraken Prime may not be the first service on the market, its emphasis on quality and reliability sets it apart from competitors.

This strategic launch highlights the growing intersection between institutional finance and the cryptocurrency market.

Ultimately, Kraken Prime aims to raise the standard for institutional crypto services, especially in these volatile times.