Kraken Expands Crypto Institutional Services to UK, Australia

Crypto exchange Kraken’s recently launched institutional business unit has begun offering custody services to customers in the UK and Australia.

Kraken Institutional is designed for users such as hedge funds and exchange-traded fund issuers, and was launched in the US by the San Francisco-area based firm in March. The private company expects to expand its services to more locations such as the European Union, Switzerland, Cayman Islands and British Virgin Islands.

The majority of locations “where Kraken exchange does business will be covered by the end of the year,” Tim Ogilvie, head of Kraken Institutional, said in an interview. ...