Kraken and Alpaca Forge Partnership to Enhance Crypto Trading Capabilities
Kraken partners with Alpaca to enhance crypto trading capabilities, offering seamless access to hundreds of cryptocurrencies via Kraken Embed.
In a significant move for the cryptocurrency and brokerage industries, Kraken has announced a strategic partnership with Alpaca. This collaboration aims to enhance Alpaca’s regulated crypto spot and derivatives trading functionalities by integrating Kraken Embed, Kraken’s advanced Crypto-as-a-Service (CaaS) solution.
Alpaca, known for its brokerage infrastructure API and self-clearing broker-dealer services, now offers expanded access to cryptocurrencies as a result of this partnership. Over 200 enterprise partners of Alpaca can now seamlessly access hundreds of cryptocurrencies. This is powered by Kraken’s robust global infrastructure and supported through Alpaca’s unified Broker API.
Brett McLain, Head of Payments and Blockchain at Kraken, highlighted the benefits of Kraken Embed, emphasizing that financial institutions can now offer compliant and streamlined crypto solutions. This eliminates the need for managing complex infrastructure, thus making it quicker and easier to meet the increasing user demand for cryptocurrencies.
The partnership leverages Kraken’s liquidity and extensive network of regulatory licenses, providing Alpaca’s partners with access to dynamic markets and efficient execution. Coupled with Alpaca’s regulatory licensing and infrastructure, this collaboration delivers a comprehensive solution for multi-asset trading. This enables clients to integrate both equities and crypto into their applications with minimal engineering efforts.
Currently active in the United States, the partnership is set to expand to Canada, the European Union, and the United Kingdom. Future plans include additional offerings such as staking and crypto derivatives, catering to the growing needs of the cryptocurrency user base.
Kraken, legally registered as Payward Inc., is also reportedly preparing to go public through an initial public offering as early as the first quarter of next year. The company’s revenue outlook is promising, having doubled in 2024 to reach $1.5 billion, with adjusted earnings of $380 million.
Since its inception in 2011, Kraken has successfully raised approximately $27 million in primary funding. As the regulatory landscape shifts under the current administration, new opportunities are emerging for crypto firms like Kraken to innovate and expand their offerings.