TechFlow news, on July 18, according to Bloomberg, Kraken's institutional business division, Kraken Institutional, has begun offering custody services to clients in the UK and Australia. The division launched in the U.S. in March this year, primarily targeting hedge funds and exchange-traded fund issuers. Kraken plans to expand into additional markets in 2024, including the European Union, Switzerland, the Cayman Islands, and the British Virgin Islands. While Kraken’s retail trading services are already available globally, its newly launched institutional service offers larger users enhanced control and functionality.
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