Kraken Launches Prime Brokerage Services for Institutional Digital Asset Investors
Quick take:
- Kraken Prume will provide liquidity for more than 90% of the digital asset market.
- The platform also supports asset-backed lending, T+1 facilities and an in-house smart order routing system.
- The announcement follows Kraken’s partnership with the financial API platform Alpaca to enable stocks and ETFs trading.
Kraken has launched Kraken Prime, a unified trading platform created for institutional crypto investors. The platform allows crypto institutions to gain access to trading, custodial and financing services.
According to the announcement on Tuesday, Kraken Prime will provide liquidity for more than 90% of the digital asset market across 20 global avenues. The platform also supports asset-backed lending, T+1 facilities and seamless integration with both on- and off-platform liquidity through an in-house smart order routing system. Clients will also enjoy a 24-7 white collar support round-the-clock support as per the press release.
The launch comes amid increasing demand from the mainstream including including asset managers, hedge funds and corporations for digital asset investment opportunities.
Commenting on the announcement, Kraken co-CEO David Ripley said in a statement: “Kraken Prime is built to meet the execution quality and service expectations of today’s institutional investors. Our infrastructure has been battle-tested across several market cycles, and with Kraken Prime, we’re channelling that robustness and unmatched expertise into a premium experience tailor-made for institutions.”
The announcement also follows Kraken’s recent partnership with the financial API platform Alpaca to enable stocks and ETFs trading. In March, the crypto exchange company also announced it was expanding into futures trading with the acquisition of NinjaTrader in a deal reported to be worth $1.5 billion.
According to Ripley, Kraken Prime’s edge lies in prioritizing quality, reliability and consistency, which are especially critical in volatile markets. We may not be the first to market but we’re setting the bar for institutional crypto.
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