Kraken Launches Embed: A Crypto-as-a-Service Solution for Financial Institutions

Kraken has launched Kraken Embed, a Crypto-as-a-Service solution for banks and fintechs to provide customers direct access to cryptocurrency. Designed to simplify operational complexities, this service allows institutions to offer regulated crypto trading quickly. The service has already seen integration with Europe’s bunq, and more partnerships are anticipated soon, aiming to meet the growing demand as crypto acceptance rises globally, particularly in Europe under clearer regulations.

Kraken, a notable player in the crypto scene, has launched a service called Kraken Embed, aimed at banks and fintechs, allowing them to offer direct access to cryptocurrency for their clients. This new Crypto-as-a-Service (CaaS) solution is designed to ease the process for these financial institutions, providing them an opportunity to facilitate regulated crypto trading without needing deep in-house expertise. It’s all about speeding up access in a growing market.

The beauty of Kraken Embed is that it simplifies operational demands and infrastructure needs for financial institutions looking to dive into the crypto world. In just a few weeks, they can have everything set to offer their customers crypto trading options. This comes attached with Kraken’s significant market experience, notably its robust liquidity, which means partners can trade without much hassle.

Kraken has already integrated with bunq, a prominent neobank from Europe, showcasing real-world application for Embed. As pointed out by Brett McLain, who leads Payments and Blockchain at Kraken, this service allows various financial institutions to meet the rising demand for cryptocurrency without getting bogged down by complexities of building their own marketplaces.

With over 15 years in the business, Kraken has been a heavyweight in crypto trading since its inception in 2011, dealing with over 370 digital assets. Their established market standing is invaluable, letting new partners quickly introduce competitive crypto offerings to cater to customer desires.

“Through Embed, we’re not just providing tools; we’re sharing our extensive knowledge with those who want a compliant and smooth path into cryptocurrencies,” McLain further elaborated. The aim here is to assist banks and fintech companies globally as crypto moves closer to mainstream finance.

The timing couldn’t be better for Kraken Embed’s launch, given the surge in global acceptance of cryptocurrencies, particularly in Europe. Regions there are experiencing growth thanks to clearer regulations like the Markets in Crypto-assets (MiCA) framework. Kraken’s reputation means it is often a go-to for financial institutions stepping into crypto waters.

Beyond bunq, Kraken anticipates rolling out more partnerships soon, which should be exciting for the space. To get further insights or delve into details about what they offer, interested institutions can check out their website for more.