📣 Kraken Takes on Institutional Market Rivals
posted 18 Jul 2024
Kraken's institutional arm has begun offering services to clients in the UK and Australia, catering to hedge funds, ETF issuers, and other large entities with advanced management and functionality.
Kraken Institutional plans to extend its reach to the EU, Switzerland, the Cayman Islands, and the British Virgin Islands. CEO Tim Ogilvie stated that the division aims to be present in all countries where Kraken's retail platform is already active by the end of 2024.
In the institutional market, Kraken faces competition from Coinbase Global and Copper, both of which are expanding their footprints. To secure clients in different regions, Kraken will need to capitalize on its existing strengths in trading volume and customer base in certain countries.
Kraken is also exploring the possibility of an IPO on a U.S. exchange, following interest from potential investors. Early projections indicate that the company could attract over $100 million due to favorable market conditions and advancements in regulation.
More breaking news
