Kraken Turns Prime Into a Self-Service Platform for Institutions

Kraken has redesigned Kraken Prime as a self-service trading and operations interface for institutional clients, moving more of the product away from API integrations and desk-managed workflows.

The company said the updated Prime interface now gives clients access to execution, settlement, access controls and order management without requiring API setup.

The platform is aimed at institutional users that want to manage trading activity, exposure and post-trade processes from a single interface.

Until now, Kraken said, access to much of that infrastructure required either API integrations or going through the desk. The web interface previously supported OTC RFQ, while a fuller view of Prime activity required programmatic access.

From API Access to One Interface

The new interface adds multi-venue execution, post-trade net settlement, a unified activity blotter, user permissions and expanded order types. Clients can place limit orders, market orders, spot RFQs and TWAP orders through the UI.

Kraken said Prime clients can trade against their credit limit, settle net at the end of a cycle, create settlement batches, view live exposure, confirm settlement and export PDF or CSV reports without contacting the desk.

The activity view brings orders, fills and trade history into one blotter, whether the trade was placed through the UI, API or the desk. The interface also lets institutions assign trading or view-only permissions, configure API keys, and revoke credentials.

Building Out Prime Brokerage

Kraken launched Prime in June 2025 as an institutional service combining trading, custody, lending and financing.

At the time, the company said Prime provided access to liquidity from more than 20 global venues, covering over 90% of the digital asset market, with smart order routing, T+1 credit facilities and asset-backed lending.

The product targets eligible institutional clients, including hedge funds, asset managers, corporates and professional trading firms.

Its structure follows the familiar prime brokerage logic of giving clients one operational setup for liquidity, credit, collateral, custody and post-trade activity rather than separate workflows with multiple counterparties.

Kraken also legally separates parts of the Prime stack. Its latest annoucement states that OTC services, including spot trading, derivatives and lending, are offered by Payward Oceanic Ltd., a member of the Kraken Group, and are available only to eligible clients and may not be offered in all jurisdictions.

Kraken did not disclose the service's economics, the composition of its liquidity sources, execution parameters, the full regulatory configuration, or the legal and operational terms of settlement.

This article was written by Tanya Chepkova at www.financemagnates.com.