Summary
TLDR: Kraken launches new platform for institutional investors to access crypto services like spot exchange, derivatives trading, custody, and indices. The move is aimed at attracting new entrants in the institutional market as adoption of crypto is expected to grow rapidly. The launch follows similar moves by competitors like Coinbase, highlighting the increasing interest from institutions in the digital asset class.
Key Points
1. Crypto exchange Kraken has introduced a new platform specifically aimed at institutional investors in order to cater to those entering the crypto space.
2. The new institutional brand from Kraken consolidates existing services such as spot exchange, derivatives trading, qualified custody, and indices through subsidiary CF Benchmarks into a single platform for clients.
3. The launch of Kraken Institutional’s full product suite, including qualified custody services offered by Kraken Financial, is set for later this year to meet the growing demand for institutional adoption of crypto assets.