Kraken launches institutional arm

Rick Steves

“If you already work with Kraken, you know how much we care about offering high quality products and a client-first experience. We’ve been the leading crypto exchange for more than a decade and through Kraken Institutional, we’ll offer the same deep expertise and cutting-edge technology to propel trading excellence for institutions.”

Kraken has unveiled Kraken Institutional, a new brand dedicated to offering comprehensive cryptocurrency solutions tailored for institutional clients, including asset managers, hedge funds, and high-net-worth individuals.

Kraken Institutional integrates several of Kraken’s existing services under one umbrella to provide a seamless and enhanced experience for institutional participants in the crypto market.

Spot trading, over-the-counter (OTC) trading, and staking

Operating as a one-stop destination for reliable, scalable, and easily integrated crypto solutions, Kraken Institutional incorporates spot trading, over-the-counter (OTC) trading, and staking.

David Ripley, CEO of Kraken, said: “If you already work with Kraken, you know how much we care about offering high quality products and a client-first experience. We’ve been the leading crypto exchange for more than a decade and through Kraken Institutional, we’ll offer the same deep expertise and cutting-edge technology to propel trading excellence for institutions.”

Tim Ogilvie, the new Global Head of Institutional, said: “Institutional adoption of crypto is growing rapidly, and with the launch of Kraken Institutional we’re poised to grow with this client segment. The recent ETF approval has spurred broader institutional demand; with Kraken Institutional, Kraken is pulling together products and services to meet the needs of institutional clients. Like crypto itself, Kraken Institutional is moving fast: expect more to come in the near future.”

Kraken was founded in 2011 and is one of the leading digital asset exchange operators in the world, offering over 200 digital assets and six fiat currencies and serving more than 10 million traders and institutions globally.

Kraken seeks dismissal of SEC v. Kraken

Still, times are tough for crypto exchanges at the moment and the same goes for Kraken, which was recently blocked in India along with other big crypto names.

A few days ago, Kraken pushed back against the SEC as part of the SEC v. Kraken lawsuit. The defendants issued a dismissal motion challenging the SEC’s grip on speculative investments, marking the exchange’s stance against what it sees as regulatory overreach.

Kraken’s counter comes amid a broader industry backlash against the SEC, with giants like Binance and Coinbase also throwing their hats into the ring with similar dismissal petitions. These moves spotlight the crypto sector’s growing impatience with what they argue is the SEC’s attempt to stretch its regulatory tentacles too far.

The SEC’s lawsuit accuses Kraken of operating unregistered business and mishandling customer assets. However, Kraken’s defense focuses on the absence of fraud or consumer harm claims in the SEC’s accusations, framing the regulatory body’s actions as a “dangerous overstep.”

Kraken’s blog post accompanying the motion claims that the SEC’s logic could absurdly stretch to classify everyday items like sports memorabilia or luxury watches as securities. This stance echoes a broader industry sentiment that the SEC’s current attitude could blur lines to an unreasonable extent, bringing in non-traditional investments under its purview.

The heart of Kraken’s argument lies in the definition of investment contracts and the nature of the cryptocurrencies traded on its platform. The exchange contends that its customers do not enter into a common enterprise with issuers, nor do they expect profits from such issuers’ efforts—points that, in its view, should exempt the traded cryptocurrencies from being labeled as investment contracts under U.S. securities laws.

Kraken also highlights a recent Supreme Court ruling underscoring Congress’s role in legislation over regulatory bodies. This legal principle has become a popular shield for crypto entities facing SEC lawsuits, including Binance, Coinbase, and Terraform Labs.

Read this next

Chainwire

Kadena Announces Annelise Osborne as Chief Business Officer

Kadena, the only scalable Layer-1 Proof-of-Work blockchain, expands its leadership team by onboarding Annelise Osborne as Kadena’s new Chief Business Officer (CBO).

Fintech

TNS brings full-stack market data management to EMEA

“We are also delighted to have Ben Myers join our London-based TNS Financial Markets team as Head of Strategic Sales for EMEA, to bolster our presence in the region.”

Chainwire

Velocity Labs and Ramp Network facilitate fiat to crypto onramp on Polkadot via Asset Hub support

Velocity Labs is proud to announce a fiat to crypto onramp using Ramp Network through the integration of Asset Hub. Through it, Ramp will be able to service any parachain in the Polkadot ecosystem.

Executive Moves

INFINOX hires Mayne Ayliffe as Global Head of HR

“I look forward to working with our teams around the world to develop a strategic HR agenda that supports high performance and is centred on human motivation.”

Fintech

Sterling to provide risk and margin support for fixed income

“Firms must have the tools to effectively manage their risk across all asset classes. As yields rise, we see more exposure from clients in the fixed income space. We understand their need to measure and mitigate risk in a highly regulated environment.”

Retail FX

FXOpen launches HK share CFDs: Tencent, Alibaba, Xiaomi, Baidu

Hong Kong share CFDs will be commission-free for a limited period of time.

Retail FX

IronFX Celebrates an Award-Winning Start to 2024 with a Series of Industry Recognitions

IronFX, a global leader in online trading, has embarked on 2024 with a spectacular display of accolades that highlight its commitment to excellence and innovation in the competitive financial services sector.

Industry News

FIA urges CFTC to regulate use cases rather than AI itself

“We urge the CFTC to refrain from crafting new regulations that generally regulate AI because this approach presents certain well-known pitfalls. By approaching the issue from the perspective of AI as a technology, rather than the use case for the technology, corresponding regulations would likely necessitate a definition of AI. We anticipate that any attempt to properly define AI would be very challenging and require considerable resources.”

Education, Inside View

The Power of Public Relations in Finance: Shaping Perceptions & Building Reputation

It’s safe to say that the finance industry has faced its share of reputation crises over the years, from the 2008 financial collapse to the many scandals around irresponsible lending, political corruption, and even Ponzi schemes. 

<