Kraken Cryptocurrency Exchange Overview
Kraken is a U.S.-based cryptocurrency exchange operated by Payward, Inc.
Founded in 2011, it has grown into a multi-asset trading platform serving retail and institutional clients with spot trading, margin, and derivatives offerings in select jurisdictions, and a suite of account and custody features designed for active market participants. Kraken has been part of several industry shifts, including the expansion of fiat on and off ramps, the growth of exchange-based staking products, and a broader push by crypto platforms into regulated traditional markets.
Kraken provides access to hundreds of digital assets and supports a range of funding methods and account types. The platform is commonly used for crypto-to-crypto trading, fiat-to-crypto purchases and sales, and advanced trading via Kraken Pro. It also offers services aimed at professional clients, including API connectivity, higher-touch trading support, and products that vary by region based on local licensing and regulatory requirements.
For a platform-level summary of features and recent product expansion, see CryptoSlate's Kraken exchange review.
Kraken was founded by Jesse Powell during the early development of the cryptonewsnavigator.com market and launched publicly as one of the earlier exchanges to emphasize fiat connectivity and a security-focused operating model.
Over time, the company expanded its asset coverage and product depth as the market moved beyond simple spot trading. Kraken has also participated in industry infrastructure efforts, including providing tools and reporting that aim to increase transparency around client asset backing.
In the mid-2020s, Kraken pursued a strategy that blended crypto-native trading with entry points into regulated financial products, including acquisitions and new business lines intended to support derivatives and multi-asset trading experiences.
Kraken positions itself around trading reliability, account security, and operational controls. Common platform features include two-factor authentication, withdrawal and key management tools, and custody practices designed to reduce exposure to online threats. Kraken has also promoted transparency initiatives through proof-of-reserves style attestations that allow users to verify certain on-platform balances are backed by assets held in custody.
For developers and institutions, Kraken's APIs and connectivity options support automated trading and integration into external risk, execution, and treasury systems. The exchange's product design typically differentiates between beginner flows on its consumer app and deeper functionality within Kraken Pro.
In 2024 and 2025, Kraken's strategy increasingly emphasized regulated market access, including products tied to U.S. futures infrastructure and acquisitions intended to support broader derivatives capabilities.
Kraken is privately held. The company has historically raised capital selectively compared to some venture-backed peers, while reinvesting in product development, compliance operations, and geographic expansion. In late 2025, Kraken publicly disclosed raising additional capital to accelerate its roadmap, including efforts that connect traditional financial products with crypto-native infrastructure.
Leadership has included founder Jesse Powell and, more recently, a co-CEO structure with Dave Ripley and Arjun Sethi, reflecting an emphasis on scaling product lines and navigating evolving regulatory and market conditions.
Considerations for Users
As with other centralized exchanges, Kraken users face several considerations:
Kraken's profile reflects the broader evolution of major exchanges, combining crypto trading services with a growing focus on regulated market access and transparency practices, while operating under a regulatory environment that remains uneven across jurisdictions.