Global Cryptocurrency Exchange Kraken announced its Prime Broker Service for institutional crypto traders, offering the best execution, deep liquidity, fundraising and 24/7 White Glove Support.
According to a press release, Kraken Prime offers access to liquidity, which accounts for more than 90% of the digital asset market at over 20 global venues, and provides 24-hour support from an experienced account management team.
The transaction can be carried out directly from qualified custody rights administered by Kraken Financial, a U.S. state legislature bank, Kraken said. The platform also supports seamless integration with both asset-backed lending, T+1 credit facilities and on-platform liquidity via the in-house smart order routing system, the company said.
Crypto Prime Brokerage is something closer to what traditional prime brokers offer in stocks, and is a set of services that have been aimed at offering for the past few years by large exchanges and digital asset-focused brokers.
“Kraken Prime enters the market with a clear mission. It offers not only performance quality, depth of service, and institutional rigor that exceeds, but exceeds, what traditional finance expects,” said David Ripley, Kraken co-CEO.
“Kraken Prime’s Edge is in prioritizing quality, reliability and consistency, which is particularly important in the volatile market. We may not be the first market, but we are setting the standards for cryptographic standards for our facilities,” says Ripley.