13 years ago: The Kraken appears.
In 2011, we set out on a quest with a simple but ambitious mission: to accelerate the adoption of cryptocurrency so that you and people around the world can achieve financial freedom and inclusion.
This was the beginning of our commitment to security, innovation and transparency.
Today, we have established ourselves as one of the largest, most trusted and secure cryptocurrency platforms with a vibrant community of over 13 million customers worldwide. These customers navigate the cryptocurrency ecosystem through our intuitive mobile apps (Kraken, Kraken Pro, Kraken Wallet) and our cutting-edge desktop trading UI.
Even amidst the seismic industry volatility, our North Star has remained constant: security above all else. This focus has not only helped us weather the past crypto winter storms, but has also allowed us to harness that energy to navigate bear markets while relentlessly pursuing customer satisfaction.
2011: A New Industry Gives Birth to Our Origin Story
Bitcoin industry veteran Jesse Powell spent two weeks in Tokyo trying to recover funds from the Mt. Gox hack. After seeing the downfall due to lack of controls and security standards, Jesse co-founded Kraken with the goal of building the first truly secure and professional exchange for cryptocurrencies.
On July 28, 2011, Kraken was born. On that day, the price of Bitcoin was $13.94, and by the end of the year, it had fallen 70%, closing at $4.25. Today, if you had simply held on to it, you would be up over 1,600,000%.
2014: Margin and advanced order types introduced to expand customers’ cryptocurrency trading arsenal
By introducing margin trading and advanced order types, Kraken has expanded the toolkit available to its clients, giving them new ways to execute their market strategies. By expanding to a wider range of currencies and trading pairs, the possibilities for clients are endless.
Today, we offer over 200 cryptocurrencies, with new trading innovations like 1-click trading, and we are constantly adding more to our arsenal.
2015: Making ETH Marketable
We were the first platform to list Etheruem’s Ether (ETH), emphasizing our commitment to supporting the most promising and innovative technologies in the crypto space. By providing early access to traders and investors to participate in Ethereum, we were able to benefit from the network’s tremendous growth, which has since evolved into a cornerstone of the decentralized finance (DeFi) ecosystem.
By listing ETH before any other platform, Kraken has played a key role in driving adoption and success for one of the industry’s most important blockchain platforms.
2017: Bridging the Fiat/Cryptocurrency Gap
We have broken new ground by integrating multiple fiat currencies, providing a seamless gateway for new customers from around the world to enter the cryptocurrency market.
This bridge between traditional finance and the rapidly growing world of digital assets is helping accelerate mainstream cryptocurrency adoption. Globally, Kraken customers trade in six national currencies, including EUR, GBP, USD, CAD, CHF, and AUD.
2019: Expansion into the Cryptocurrency Futures Market
By entering the cryptocurrency futures market, we have provided both institutional and retail investors with a new way to trade cryptocurrency price movements without having to own or store the assets.
Today, we offer over 160 perpetual futures and the lowest fees in the industry (including taker fees as low as 0.01%). Clients can profit on the long or short side, hedge existing positions, and trade in a capital-efficient manner using leverage.
2020: Obtained the first federally recognized digital asset banking charter
The State of Wyoming approved our application, and we established Kraken Financial*, the world’s first Special Purpose Depository Institution (SPDI).
As the first U.S. digital asset company to receive a banking charter recognized under federal and state law, Kraken Financial offers comprehensive digital asset custody services while ensuring full regulatory compliance.
2022: Partnership with Williams Racing Formula 1
We have joined forces with Williams Racing, a union of two powerhouses driven by a shared commitment to innovation and integrity. This partnership, our first major deal in the sport, is a spark of excitement for F1 fans and crypto enthusiasts alike.
From providing exclusive fan-only experiences through the Williams Grid Pass to running race promotions within Williams Fan Zones at F1 events, we have introduced the world of digital assets to Williams fans around the world.
2023: Testify before Congress to push for effective cryptocurrency regulation
Chief Legal Officer Marco Santori testified before Congress on May 10, 2023. He outlined the company’s approach to risk management, security, and customer protection, identified current gaps in U.S. regulation that Congress could address, and cited legislative and regulatory developments in other developed countries.
The cryptocurrency market transcends borders in a new way relative to traditional financial markets, and digital assets provide people with new ways to trade in a fair, real-time, borderless manner. We will continue to provide a collaborative voice in the ongoing discussion on effective and fair regulation.
2024: Launch Kraken Wallet and Kraken Institutional and introduce transparency into the listing process.
We debuted a secure and user-friendly solution for managing digital assets. Kraken Wallet supports a wide range of cryptocurrencies, giving users increased control and convenience in managing their holdings.
Kraken Institutional also launched, providing a one-stop service for institutions that need a reliable, scalable, and easy-to-integrate crypto solution.
The new listing roadmap reflects our commitment to providing users with transparent access to the listing process and pipeline. We democratize the listing process by providing an open application for listing assets on Kraken.
2011-2024: A lot has changed around us. Our focus remains the same.
As we look to the horizon, our mission remains clear, essential, and unwavering, like the first block on the Bitcoin blockchain: We aim to accelerate cryptocurrency adoption, enabling you and the world to achieve financial freedom and inclusion.
We will continue to meet with you, our valued customers and prospects, wherever you are in your crypto journey. Trust us for the security, innovation and award-winning customer experience that has become synonymous with the Kraken name.
As it was then, 13 years later, the cryptocurrency revolution is still in its infancy. We are excited to empower the next generation of cryptocurrency users and provide them with new tools to trade, connect, and succeed in the digital age. The future is bright, and Kraken is leading 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 not FDIC-insured or protected by the FDIC.
This material is provided for general information purposes only and is not intended to be investment advice or a recommendation or solicitation to buy, sell, hold, or otherwise engage in any particular trading strategy. Kraken makes no representations or warranties of any kind, express or implied, as to the accuracy, completeness, timeliness, suitability or validity of this information and assumes no liability for any errors, omissions or delays in the presentation or use of this information or for any loss, injury or damage arising from such information. Kraken does not and will not seek to increase or decrease the price of any particular crypto asset it offers. Some crypto products and markets are unregulated and may not be protected by governmental compensation and/or regulatory protections. The unpredictable nature of the crypto asset markets can result in the loss of funds. Taxes may apply on gains and/or appreciation in the value of crypto assets and you should seek independent advice regarding your tax position. Geographic restrictions may apply.
Trading futures, derivatives and other products using leverage involves risk and may not be suitable for everyone. For more information, please read Kraken Futures’ Risk Disclosure.
The availability of margin trading services is subject to certain restrictions and eligibility criteria. Margin trading carries risks and may not be suitable for everyone. For more information, please read Kraken’s Margin Disclosure Statement.
