{"id":4674,"date":"2024-03-20T16:49:34","date_gmt":"2024-03-20T16:49:34","guid":{"rendered":"https:\/\/www.cryptometer.io\/news\/?p=4674"},"modified":"2024-03-20T16:49:36","modified_gmt":"2024-03-20T16:49:36","slug":"kraken-launches-institutional-custody-service-in-wyoming","status":"publish","type":"post","link":"https:\/\/www.cryptometer.io\/news\/kraken-launches-institutional-custody-service-in-wyoming\/","title":{"rendered":"Kraken Launches Institutional Custody Service in Wyoming"},"content":{"rendered":"\n<p>Kraken, a prominent cryptocurrency exchange, has introduced a new custody service tailored for institutional clients, leveraging its unique banking license in Wyoming. Known as Kraken Institutional, this service provides a secure custody solution operating under the special purpose depository institution (SPDI) charter obtained in 2020.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-wyoming-as-a-crypto-hub\">Wyoming as a Crypto Hub<\/h2>\n\n\n\n<p>Wyoming, known for its progressive stance on cryptocurrency regulation, has enacted over 35 laws since 2016 to provide clarity and support for the crypto industry. Kraken&#8217;s decision to base its institutional custody service in Wyoming underscores the state&#8217;s attractiveness as a crypto-friendly jurisdiction.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-features-of-kraken-institutional\">Features of Kraken Institutional<\/h2>\n\n\n\n<p>Kraken Institutional offers several key benefits to its clients:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Segregated Accounts<\/strong>: Client deposits are kept in segregated accounts, ensuring that they are distinct and protected from the exchange&#8217;s operational funds.<\/li>\n\n\n\n<li><strong>Full-Reserve Basis<\/strong>: All client deposits are held on a full-reserve basis, reinforcing the safety and integrity of the custody service.<\/li>\n\n\n\n<li><strong>Compliance and Security<\/strong>: The launch follows extensive legal and compliance checks, highlighting Kraken&#8217;s commitment to providing a secure and compliant banking and custody solution for institutional clients.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-future-developments\">Future Developments<\/h2>\n\n\n\n<p>Looking ahead, Kraken plans to enhance its institutional offering with a smart order routing tool. This tool is designed to access highly liquid order books across multiple venues, optimizing for execution quality and price. Set to be available later this year, this addition aims to further elevate the trading and custody experience for Kraken&#8217;s institutional clients.<\/p>\n\n\n\n<p>Kraken&#8217;s move to offer qualified custody in Wyoming not only marks a significant milestone for the exchange but also for the broader crypto industry, showcasing the growing institutional interest and the ongoing efforts to provide secure and regulated crypto services.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kraken, a prominent cryptocurrency exchange, has introduced a new custody service tailored for institutional clients, leveraging its unique banking license in Wyoming. Known as Kraken Institutional, this service provides a secure custody solution operating under the special purpose depository institution (SPDI) charter obtained in 2020. Wyoming as a Crypto Hub Wyoming, known for its progressive [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":4676,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[30,43],"tags":[],"class_list":{"0":"post-4674","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-exchange","8":"category-general-news"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Kraken Launches Institutional Custody Service in Wyoming<\/title>\n<meta name=\"description\" content=\"Kraken, a prominent cryptocurrency exchange, has introduced a new custody service tailored for institutional clients, leveraging its unique banking\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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