Kraken Expands AI-Assisted Trading with ICE Chat Integration
Kraken has taken a significant step in the world of institutional crypto trading by joining ICE Chat, a platform that now boasts a global user base of 5.7 million. This integration allows institutional clients to interact directly with Kraken’s trading desk using advanced messaging tools, showcasing the increasing reliance on AI-assisted systems in digital asset markets.
The collaboration also connects Kraken’s OTC (over-the-counter) desk to ICE Chat, which is part of the Intercontinental Exchange’s (ICE) platform used by over 120,000 traders worldwide. These users include banks, brokers, asset managers, and trading desks, who can now exchange insights and execute trades more efficiently.
Thanks to this integration, institutions can access Kraken through a system that seamlessly fits into their daily trading operations. Institutional traders can negotiate crypto trades, request pricing, and execute large trades directly with Kraken’s OTC desk via ICE Chat.
Kraken claims to be the first cryptocurrency exchange approved to integrate with ICE Chat, marking a pivotal moment for crypto trading as it becomes part of an existing institutional communication network. This development allows large financial players to participate more easily in digital asset markets. The companies have stated that they plan to expand the integration further over time. This move is part of a broader strategy to embed crypto trading into traditional financial infrastructure, enabling institutions to access digital assets using established tools and workflows.
ICE’s Role in the Crypto Ecosystem
As a major global market infrastructure provider, ICE offers exchange, clearing, data, and technology solutions across financial markets. The company has been actively expanding its presence in the crypto and blockchain sectors over the past year. Its efforts go beyond its core exchange business, venturing into blockchain data services, prediction markets, and crypto payments.
In August, ICE partnered with Chainlink, a blockchain oracle provider, to bring foreign exchange and precious metals data onchain. This collaboration allows blockchain applications to access verified market data from traditional financial markets through ICE’s Consolidated Feed, which aggregates pricing data from over 300 global exchanges and marketplaces.
In October, ICE invested $2 billion in Polymarket, a crypto-based prediction market platform. The deal valued Polymarket at $9 billion after the investment. Later, in December, ICE entered discussions to support MoonPay, a crypto payments company seeking a reported $5 billion valuation in its latest funding round.
Although the details of ICE’s investment in MoonPay were not disclosed, it is clear that ICE is not only providing the physical infrastructure for digital assets but also taking financial stakes in companies operating in the cryptocurrency space. The Kraken integration is part of ICE’s broader vision to position itself as a bridge between traditional finance and blockchain-based markets.
Major Exchanges Explore Tokenized Trading
Other leading US exchanges are also exploring tokenization. Nasdaq submitted a request to the US Securities and Exchange Commission (SEC) in September, asking for approval to list tokenized stocks under a proposed rule change.
In January, the New York Stock Exchange unveiled plans to develop a 24/7 trading platform for tokenized stocks and exchange-traded funds (ETFs). This initiative would combine elements of the exchange’s Pillar matching engine with blockchain-based systems for post-trade settlement.
While the project is still subject to regulatory approval, these developments indicate that big financial institutions are taking digital assets more seriously. Kraken is leveraging a large, established institutional trading community by bringing its OTC desk to ICE Chat.
Meanwhile, ICE and other exchanges are deepening their presence in the blockchain marketplace. As traditional and digital finance continue to converge, integrations between the two may become more common.
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