13 years ago: The Kraken emerged
In 2011, we embarked on a quest with a simple yet ambitious mission: to accelerate the adoption of cryptocurrency so that you and the rest of the world can achieve financial freedom and inclusion.
It was the dawn of a commitment to security, innovation and transparency.
Today, we stand tall as one of the largest, most trusted and secure cryptocurrency platforms, a vibrant community of over 13 million clients worldwide who navigate the crypto ecosystem through our intuitive mobile apps (Kraken, Kraken Pro and Kraken Wallet) and state-of-the-art desktop trading UI.
Through seismic industry volatility, our North Star has remained constant: security above everything. It is this focus that allowed us to not just weather the storms of crypto winters past, but to harness their energy, building through bear markets in our relentless pursuit of client satisfaction.
2011: A new industry begets our origin story
Bitcoin industry veteran Jesse Powell spent two weeks in Tokyo trying to help recover funds from the Mt. Gox hack. Seeing how its lack of controls and security standards had led to its demise, Jesse co-founded Kraken, seeking to build crypto’s first truly secure and professional exchange.
On July 28, 2011, Kraken was born. The Bitcoin price that day was $13.94 – which then fell 70% by year end, when Bitcoin closed at $4.25. Today, you’d be up over 1,600,000% if you simply HODLed since that time.
2014: Introducing margin and advanced order types to expand our clients’ crypto trading arsenal
With the introduction of margin trading and advanced order types, Kraken expanded our clients’ available toolkit, providing new ways for them to execute on their market strategies. Our expansion into a diverse array of currencies and trading pairs opened up a universe of possibilities for our clients.
Today, we offer over 200 cryptocurrencies with new trading innovations – such as 1-click trading – continuously being added to our arsenal.
2015: Making ETH accessible in the marketplace
We were the first platform to list Etheruem’s ether (ETH), underscoring our commitment to supporting the most promising and transformative technologies in the crypto space. Providing early access for traders and investors to participate in Ethereum allowed them to benefit from the network’s massive growth, which has since evolved into a cornerstone of the decentralized finance (DeFi) ecosystem.
By listing ETH before other platforms, Kraken played a crucial role in facilitating the adoption and success of one of the most significant blockchain platforms in the industry.
2017: Bridging the fiat/crypto divide
We broke new ground by integrating multiple fiat currencies, creating a seamless gateway for new clients around the world to enter the crypto market.
This bridge between traditional finance and the burgeoning world of digital assets helps accelerate mainstream crypto adoption. Globally, Kraken clients trade in six different national currencies, including EUR, GBP, USD, CAD, CHF and AUD.
2019: Expansion into crypto futures
Our entry into the crypto futures market brought both institutional and retail investors a new way to trade crypto price movements without ever having to own or take custody of cryptoassets.
Today, we offer over 160 perpetual futures and some of the lowest fees in the industry (including taker fees as low as 0.01%). Clients can profit on either the long or the short side, hedge existing positions and use leverage to trade in a capital-efficient manner.
2020: Receiving the first ever federally recognized digital asset bank charter
The state of Wyoming approved our application and we formed the world’s first Special Purpose Depository Institution (SPDI), Kraken Financial.*
The first digital asset company in U.S. history to receive a bank charter recognized under federal and state law, Kraken Financial provides comprehensive digital asset custody services while ensuring full regulatory compliance.
2022: Partnering with Williams Racing Formula 1
We joined forces with Williams Racing, a union of two powerhouses driven by a shared commitment to innovation and integrity. Our first major deal in the sports world, the partnership ignites a spark of excitement among F1 fans and crypto enthusiasts alike.
From unlocking exclusive fan experiences with our Williams Grid Pass to onsite race promotions within Williams Fan Zones at F1 events, we’ve introduced the world of digital assets to Williams fans around the globe.
2023: Testifying before Congress to push for effective crypto regulation
Chief Legal Officer Marco Santori appeared before Congress on May 10, 2023 and testified before Congress. Outlining our approach to risk management, security and client protection, he identified current gaps in U.S. rules that can be addressed by Congress and cited legislative and regulatory advancements in other developed economies.
Crypto markets transcend borders in new ways relative to legacy financial markets and digital assets empower people with new ways to transact in a borderless, real-time and fair manner. We will continue to lend our collaborative voice to the ongoing discussion around effective, equitable regulation.
2024: Launching Kraken Wallet and Kraken Institutional while bringing transparency to our listing process
We debuted our secure and user-friendly solution for managing digital assets. Kraken Wallet supports a wide range of cryptocurrencies, providing users with enhanced control and convenience in managing their holdings.
Kraken Institutional also went live, providing a one-stop-shop for institutions that need reliable, scalable and easy to integrate crypto solutions.
Our new listings roadmap reflects our dedication to providing users with transparent access to our listings process and pipeline. It democratizes our listings process, providing an open application for listing an asset on Kraken.
2011-2024: So much around us has changed. Our focus remains the same.
As we gaze toward the horizon, the direction of our mission remains as clear, important and unchanged as the first block on Bitcoin’s blockchain. We aim to accelerate the adoption of cryptocurrency so that you and the rest of the world can achieve financial freedom and inclusion.
We will continue to meet you, our valued clients and potential clients, wherever you are on your crypto journey. Count on us for the security, innovation and award-winning client experience that have become synonymous with the Kraken name.
Early as were back then, 13 years on, the crypto revolution is still in its infancy. We are thrilled to empower the next generation of crypto users, equipping them with new tools to transact, connect and thrive in the digital age. The future is bright, and Kraken is here to light the way.
* Custody services provided by Kraken Financial, a Wyoming-chartered Special Purpose Depository Institution. Kraken Financial is not an FDIC-insured bank and deposits are neither insured by nor subject to the protections of the FDIC.
These materials are for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell, stake, or hold any cryptoasset or to engage in any specific trading strategy. Kraken makes no representation or warranty of any kind, express or implied, as to the accuracy, completeness, timeliness, suitability or validity of any such information and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. Kraken does not and will not work to increase or decrease the price of any particular cryptoasset it makes available. Some crypto products and markets are unregulated, and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the cryptoasset markets can lead to loss of funds. Tax may be payable on any return and/or on any increase in the value of your cryptoassets and you should seek independent advice on your taxation position. Geographic restrictions may apply.
Trading futures, derivatives and other instruments using leverage involves an element of risk and may not be suitable for everyone. Read Kraken Futures’ risk disclosure to learn more.
Availability of margin trading services is subject to certain limitations and eligibility criteria. Trading using margin involves an element of risk and may not be suitable for everyone. Read Kraken’s Margin Disclosure Statement to learn more.
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