The move follows the successful launch of Kraken Custody, a service for institutional clients, in the US in March. The service allows institutions to securely store, manage and transfer funds within a single interface that is integrated with the rest of Kraken’s products.
“The market is demanding more alternatives for storing digital assets. Kraken Custody provides institutions looking to invest in the digital asset class with an optimal solution that combines industry-leading security protocols and role-based access control with seamless integration with other products in the Kraken ecosystem,” a spokesperson for the exchange’s division said.
Kraken Institutional noted that Kraken Custody services for institutional clients are provided through a special depository institution, Kraken Financial, which is registered in the United States and separates clients’ digital assets from the exchange’s own funds.
Earlier, an internal study by experts at the Kraken exchange of the Australian digital asset market showed that the most favorite digital currency of Australian crypto traders is Bitcoin.
Source: Bits
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