Wallets/kraken
Kraken
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Overview
Kraken is a US-registered centralized cryptocurrency exchange + one of the first crypto-native firms with direct access to Federal Reserve payment rails [1, 2, [crypto-cro]]. Q3 2025 baseline: 13M+ registered users + 5.2M funded accounts (+46% Q3 2025) + $561.9B Q3 2025 trading volume + $648M Q3 2025 revenue (+114% YoY) + $59.3B assets on platform (+89%).
Distinctive Kraken positioning [2, 3]:
- Established 2011 — one of oldest crypto exchanges still operational
- US-registered centralized cryptocurrency exchange
- About half Kraken downloads from US + 8% UK + 6% Canada — distinctive Anglo-region focus
- Kraken Financial holds Federal Reserve master account (approved March 2026) — distinctive (one of first crypto-native firms with direct access to Fed payment rails for settlement + liquidity management + USD transfers without intermediary banks)
- Kraken Securities (FINRA member): Commission-free trading of 11,000+ US-listed stocks and ETFs (phased rollout began April 2025; 10 states + Washington D.C.) — distinctive crypto-exchange + traditional-securities convergence
History
July 2011 — Kraken founded by Jesse Powell + Thanh Luu in San Francisco.
2013 — Kraken launches public Bitcoin + Litecoin trading.
2014 — Kraken becomes first crypto exchange to display trading price + volume on Bloomberg Terminal.
2019 — Kraken acquires Crypto Facilities (UK) — derivatives expansion.
2022 — Kraken launches Kraken NFT marketplace (later discontinued).
April 2025 — Kraken Securities launches commission-free US stocks + ETFs trading (phased rollout in 10 states + DC) [2].
March 2026 — Kraken Financial receives Federal Reserve master account approval [2] — distinctive (one of first crypto-native firms with direct Fed payment rails access).
Q3 2025 — 13M+ registered users + 5.2M funded accounts (+46%) + $561.9B Q3 trading volume + $648M Q3 revenue (+114% YoY) + $59.3B assets on platform (+89%) [1, 3].
Ownership & operator
Operating entity: Payward Inc. (operating as Kraken; private; San Francisco-headquartered).
Major shareholders: Jesse Powell (founder; major shareholder) + Tribe Capital + Hummingbird Ventures + various institutional investors.
Regulators: FinCEN (Financial Crimes Enforcement Network) + SEC (Securities and Exchange Commission) + CFTC (Commodity Futures Trading Commission) + FRB (Federal Reserve Board; Federal Reserve master account approved Mar 2026) + NYDFS + FINRA (Kraken Securities member) + per-jurisdiction.
Technical integration
| Layer | Description |
|---|---|
| Channels | Kraken app (iOS + Android; primary mobile channel) + Kraken.com web exchange + Kraken Pro (advanced trading) + Kraken Securities (commission-free US stocks + ETFs since Apr 2025) |
| Identifiers | Email + phone + KYC documents (per AML requirements) |
| License | Crypto exchange (US-registered; FinCEN + SEC + CFTC + FRB Federal Reserve master account approved Mar 2026 + NYDFS + FINRA Kraken Securities + per-jurisdiction) |
| Products | Kraken Spot Trading + Kraken Pro (advanced trading) + Kraken Futures (Crypto Facilities UK acquisition) + Kraken Staking + Kraken Margin Trading + Kraken Custody (Kraken Financial Federal Reserve master account) + Kraken OTC + Kraken Institutional + Kraken Securities (FINRA member; commission-free US stocks + ETFs since Apr 2025; 11,000+ US-listed) + Kraken Card |
| Distinctive Federal Reserve master account (approved March 2026): One of first crypto-native firms with direct access to Fed payment rails for settlement + liquidity management + USD transfers without intermediary banks | |
| Distinctive Kraken Securities (Apr 2025): Commission-free US stocks + ETFs trading phased rollout (10 states + DC) |
Users & growth
- 13M+ registered users + 5.2M funded accounts (+46% Q3 2025)
- $561.9B Q3 2025 trading volume
- $648M Q3 2025 revenue (+114% YoY)
- $59.3B assets on platform (+89%)
- ~50% downloads from US + 8% UK + 6% Canada
Use cases
US + global crypto spot + Pro advanced + futures + staking + margin + custody (Kraken Financial Federal Reserve master account) + OTC + institutional trading via Kraken app + Kraken.com + Kraken Pro; Kraken Securities (FINRA member) commission-free US stocks + ETFs trading (11,000+ US-listed; phased rollout from Apr 2025 in 10 states + DC); Kraken Card.
Implementations & partners
Operator: Payward Inc. (operating as Kraken; private; San Francisco-headquartered).
Major shareholders: Jesse Powell (founder; major shareholder) + Tribe Capital + Hummingbird Ventures + various institutional investors.
Major crypto exchange competitors:
- [[binance]] (Binance; world's largest crypto exchange by trading volume; 300M+ users; 41.1% global spot in Jun 2025; CZ-founded; restricted in US)
- [[coinbase]] (Coinbase Global Inc.; NASDAQ: COIN; US's largest crypto exchange; 108M+ customers; 60-65% US crypto exchange trading volume; 6.9% global)
- Gemini (US crypto exchange; Winklevoss twins)
- OKX + Bybit + Bitget + MEXC + HTX (formerly Huobi) + KuCoin + Gate.io + Crypto.com (other major centralized crypto exchanges)
- Uniswap + PancakeSwap + dYdX + GMX (decentralized exchanges)
Distinctive Federal Reserve master account holder: One of first crypto-native firms with direct access to Fed payment rails (approved March 2026).
Distinctive Kraken-bunq partnership (April 2025): Kraken powers crypto trading for bunq (EU #2 neobank) — [[bunq]] partnership.
Regulators: FinCEN + SEC + CFTC + FRB + NYDFS + FINRA (Kraken Securities) + per-jurisdiction.
Fun facts
- One of oldest crypto exchanges still operational — founded July 2011 by Jesse Powell + Thanh Luu in San Francisco.
- US-registered centralized cryptocurrency exchange.
- Federal Reserve master account approved March 2026 — distinctive (one of first crypto-native firms with direct access to Fed payment rails for settlement + liquidity management + USD transfers without intermediary banks).
- Kraken Securities (FINRA member): Commission-free US stocks + ETFs trading (11,000+ US-listed; phased rollout from April 2025 in 10 states + DC) — distinctive crypto-exchange + traditional-securities convergence.
- Q3 2025: 13M+ registered users + 5.2M funded accounts (+46%) + $561.9B trading volume + $648M revenue (+114% YoY).
- ~50% Kraken downloads from US + 8% UK + 6% Canada — distinctive Anglo-region focus.
- 2014 first crypto exchange to display trading price + volume on Bloomberg Terminal.
- April 2025 Kraken-bunq partnership — Kraken powers crypto trading for bunq (EU #2 neobank).
Comparison
| Feature | Kraken | [[binance]] (World's largest crypto exchange by trading volume rival) | [[coinbase]] (US's largest crypto exchange rival; 108M+ customers; NASDAQ-listed) | [[bunq]] (EU #2 neobank — Kraken's Apr 2025 partnership powers bunq crypto trading) | [[okx-wallet]] (Batch 27; major Web3 wallet comparable) |
|---|---|---|---|---|---|
| Operator | Payward Inc. (operating as Kraken; private; San Francisco-headquartered; Jesse Powell founder + major shareholder + Tribe Capital + Hummingbird Ventures + institutional investors) | Binance Holdings Ltd. (private; multi-jurisdiction; CZ founder + majority shareholder; CZ stepped down Nov 2023; Richard Teng CEO) | Coinbase Global Inc. (NASDAQ: COIN; Brian Armstrong founder + majority class B + voting control + Andreessen Horowitz + USV + institutional + NASDAQ float) | bunq B.V. (Amsterdam; Ali Niknam + Series A investors) | OKX (private; Seychelles-headquartered) |
| Type | US-registered crypto exchange + Federal Reserve master account approved Mar 2026 (one of first crypto-native firms with direct Fed payment rails access) + Kraken Securities FINRA member (commission-free US stocks + ETFs trading 11,000+ since Apr 2025; 10 states + DC phased rollout) | World's largest crypto exchange by trading volume (41.1% global spot in Jun 2025) + 300M+ users + $34T 2025 annual trading volume + BNB Chain | US's largest crypto exchange + 108M+ customers + 60-65% US crypto exchange trading volume + 6.9% global market share + NASDAQ-listed since Apr 14 2021 + Base L2 blockchain | EU #2 neobank + 30 European countries + flexible crypto staking | Major Web3 wallet + centralized exchange |
| Country | US + UK + CA + global | Global (UAE base; restricted in US) | US + global | 30 European countries | Global (Seychelles base) |
| Users | 13M+ registered users + 5.2M funded accounts (Q3 2025; +46%); $561.9B Q3 2025 trading volume; $648M Q3 2025 revenue (+114% YoY); $59.3B assets on platform (+89%); ~50% downloads from US + 8% UK + 6% Canada | 300M+ users (Dec 2025); $34T 2025 trading volume; 41.1% global spot Jun 2025 | 108M+ customers; 60-65% US crypto exchange trading volume | 20M users (end 2025) | Major Web3 wallet |
| Distinctive | Jul 2011 founding by Jesse Powell + Thanh Luu in San Francisco; one of oldest crypto exchanges still operational; 2014 first crypto exchange to display trading price + volume on Bloomberg Terminal; 2019 Crypto Facilities UK acquisition (derivatives); Mar 2026 Federal Reserve master account approval (distinctive direct Fed payment rails access); Apr 2025 Kraken Securities launch (commission-free US stocks + ETFs 11,000+; 10 states + DC phased rollout); Apr 2025 Kraken-bunq partnership powers bunq crypto trading | Jul 2017 CZ-founded in China; world's #1 crypto exchange by trading volume; BNB Chain; 2025 ADGM FSRA full authorization | Jun 2012 founding by Brian Armstrong + Fred Ehrsam; Apr 14 2021 NASDAQ direct listing (first publicly listed major crypto exchange); 60-65% US crypto exchange trading volume; Base L2 blockchain | 2012 founding by Ali Niknam; Sep 2025 first European challenger bank with flexible crypto staking | Web3 wallet major |
Status
Active, US-registered centralized crypto exchange + Federal Reserve master account holder + Kraken Securities US stocks + ETFs trading [1, 2]:
- Payward Inc. (operating as Kraken) since July 2011 (founded by Jesse Powell + Thanh Luu in San Francisco).
- 13M+ registered users + 5.2M funded accounts (Q3 2025; +46%).
- $561.9B Q3 2025 trading volume + $648M Q3 2025 revenue (+114% YoY).
- March 2026 Federal Reserve master account approval distinctive.
- April 2025 Kraken Securities launch + April 2025 Kraken-bunq partnership for bunq crypto trading.
- FinCEN + SEC + CFTC + FRB + NYDFS + FINRA (Kraken Securities) + per-jurisdiction regulated.
Sources
- 1 Kraken — official
- 2 Kraken (cryptocurrency exchange) — Wikipedia
- 3 Kraken's $178M Q3 Surge — BeInCrypto
- 4 Kraken revenue valuation & funding — Sacra
- [crypto-cro] In-corpus:
reports/countries/CRYPTO-global.md
Source
Biography extracted from kraken.md. See matrix.md for standards-support matrix if present.