Kraken Crypto Exchange Starts Unit for Institutional Customers

Kraken, one the oldest cryptocurrency exchanges, has started a new unit, Kraken Institutional, to better serve its largest customers.

Designed to cater to users such as hedge funds and exchange-traded fund issuers, the firm aims to become a one-stop shop with services like spot trading, custody, lending and staking. The unit will also include the San Francisco-based company’s indexing business, CF Benchmarks, which already serves many of the recently launched US ETFs investing directly in Bitcoin.

Kraken Institutional is part of an effort to further diversify the company’s revenue and to make it more predictable. Kraken was founded in ...