Cryptocurrency exchange Kraken has announced the launch of a new colocation service. The service is designed for clients and partners who need ultra-fast execution. It aims to improve transaction performance and scalability while providing fair and transparent access to Kraken’s global crypto market.
Additionally, Kraken has received approval from the UK Financial Conduct Authority (FCA) for its electronic financial institution (EMI) license. This allows Kraken to issue e-money and provide quick deposit and withdrawal options to its UK clients.
“Kraken has been continuously strengthening its infrastructure and technology for over a decade, and this is the next step in its evolution,” says Shannon Kurtas, Kraken’s Head of Exchange.
Later this year, Kraken will offer ultra-low latency trading from European data centers. Clients can rent cloud computing services from Beeks, a provider of low-latency solutions. For those with specific technical needs, there is also the option to install physical hardware in Kraken’s data centers and access the colocation service directly.
“Working with Beeks will promote lower latency, more efficient price discovery and deeper liquidity in all Kraken spot and derivatives markets,” Kurtas added.
Kraken offers its clients to trade over 300 digital assets, including GBP, EUR, USD, CAD, CHF and AUD, and six national currencies. Colocation Services offers clients the advantage of low latency using Beeks Exchange Cloud. For example, London traders can expect sub-millisecond latency. These services are expected to be available later in the year.
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