Kraken integrates OTC desk with ICE Chat to open institutional crypto access
Kraken has linked its over-the-counter trading desk into ICE Chat, enabling institutional counterparties to source crypto liquidity without leaving their existing messaging workflows. The integration exposes Kraken’s block-trading capabilities to a community of 120,000+ market participants that use the platform for real-time deal negotiation.
By placing crypto liquidity inside the same communications fabric used for equities, FX and derivatives, the connection reduces operational handoffs and shortens execution paths for large-size spot and options trades. Kraken’s OTC desk can now interact directly with banks, brokers and trading desks that already route high-touch orders through ICE Chat. ICE, which operates the platform and owns the NYSE, positions this as a practical step toward integrating digital assets with mainstream market plumbing. The arrangement also helps custody, compliance and settlement teams keep trade negotiations inside a single approved channel, potentially lowering integration and reconciliation costs for counterparties. For Kraken, the integration expands institutional distribution and reduces one common friction point for clients that prize workflow continuity.
This tie-up is consistent with ICE’s broader strategy to weave blockchain data and tokenized products into traditional markets, following partnerships such as its work with Chainlink and investments in platforms like Polymarket. Competing exchange groups, including Nasdaq and the NYSE, are also advancing tokenization and round-the-clock trading models, which raises competitive and interoperability questions. Regulators and compliance teams will likely scrutinize how large bilateral crypto executions routed through traditional chat systems affect surveillance, reporting and post-trade workflows. Short term, institutional traders gain faster, more familiar access to sizable crypto fills; medium term, the integration makes it easier for regulated firms to treat crypto liquidity as part of their multi-asset execution toolkit.
Read Our Expert Analysis
Create an account or login for free to unlock our expert analysis and key takeaways for this development.
By continuing, you agree to receive marketing communications and our weekly newsletter. You can opt-out at any time.
Recommended for you
U.S. trading desk routes $1 million to Kraken over Lightning as institutional use case tested
An institutional trading and lending desk executed a single Lightning Network payment of $1,000,000 to exchange Kraken, settling in under half a second. The transfer, routed over Voltage’s managed Lightning infrastructure, serves as a proof‑of‑concept for high‑value, regulated counterparties using Bitcoin’s Layer‑2 for near‑instant settlements.
Ripple Prime integrates Hyperliquid to bring on‑chain derivatives into institutional prime brokerage
Ripple Prime has integrated Hyperliquid so institutional customers can trade on‑chain derivatives through a prime broker while keeping a single contractual counterparty. The move is part of a broader push—alongside recent product and acquisition activity—to fold tokenized liquidity and treasury tooling into institutional workflows, reducing frictions but concentrating new operational and counterparty exposures in intermediaries.
