according to Finance Feeds, the cryptocurrency exchange Kraken has launched the cryptocurrency-as-a-service product Kraken Embed, allowing financial institutions to provide digital asset trading services to customers without the need to build their own trading systems. The product supports over 370 types of digital assets, with the European digital bank bunq becoming the first integrated partner. Brett McLain, Head of Kraken Payments and Blockchain Business, said that this solution can help financial institutions start compliant cryptocurrency businesses in a matter of weeks, while avoiding the complexity of operating their own exchange. Currently, this service is compliant with EU regulations such as MiCA, and more partners are expected to join in the future.
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