Kraken Launches Crypto Prime Brokerage Targeting Wall Street Clients

Crypto exchange Kraken introduced a new full-service brokerage solution targeting hedge funds, asset managers, corporates, and other large-scale market participants.

Dubbed Kraken Prime, the new platform reportedly consolidates trading, custody, and asset financing into one streamlined interface. The move signals Kraken’s deeper commitment to institutional crypto adoption and positions the firm to compete directly with traditional prime brokers.

Backed by 24/7 client service, the new platform aims to provide execution quality and operational rigor familiar to traditional finance players.

Designed for Institutions at a Pivotal Time

Kraken sees an inflection point in the institutional adoption of digital assets. As regulatory clarity increases and market infrastructure evolves, large financial entities are seeking partners that can offer both technical capability and compliance assurance.

One of the platform’s standout features is access to liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term covering over 90% of the digital asset market, sourced from more than 20 global venues.

Commenting about the latest move, Kraken co-CEO David Ripley said: “We enter this market with a clear mandate: Deliver execution quality, service depth, and institutional rigor that not only meet but exceed what traditional finance expects. 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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Kraken Prime uses a smart order routing system to integrate on- and off-platform liquidity, supporting seamless trade execution and minimal slippage, a key priority for large-volume traders.

Trades are executed directly from qualified custody accounts managed by Kraken Financial, a state-chartered U.S. bank. This setup enhances operational security and streamlines the post-trade process.

Round-the-Clock Support and Credit Facilities

Kraken Prime’s service layer includes high-touch client support available 24/7, a rarity in traditional markets but a necessity in crypto’s always-on trading environment.

The platform also enables institutional-grade asset-backed lending and T+1 credit facilities, giving clients more flexibility to manage capital efficiently.

Last month, Kraken announced plans to offer tokenized versions of popular U.S. equities. The exchange mentioned that it will list a new suite of tokenized equities Equities Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Read this Term dubbed xStocks in partnership with Backed Finance.

The assets will reportedly be live on the Solana blockchain and represent actual shares held 1:1 by Backed. The company also acquired NinjaTrader, a prominent U.S. futures trading platform, for $1.5 billion.