Kraken Connects OTC Desk to ICE Chat for Institutional Crypto Trading

The United States-based cryptocurrency exchange Kraken has successfully integrated its over-the-counter (OTC) trading desk with the Intercontinental Exchange’s ICE Chat platform. This strategic move empowers institutional traders to tap into Kraken’s deep crypto liquidity reserves directly via a messaging system that is extensively utilized throughout global financial markets.

ICE Chat serves as a vital communication hub, linking over 120,000 participants in the financial sector, such as banks, brokerage firms, and specialized trading desks. These professionals rely on the platform for instantaneous negotiations and executions of deals. Through this new integration, Kraken’s OTC desk becomes seamlessly accessible, allowing clients to engage in direct conversations without disrupting their established trading routines and workflows.

Kraken has announced that it holds the distinction of being the pioneering cryptocurrency platform to receive approval for connectivity with ICE Chat. This achievement positions its cryptocurrency liquidity on par with conventional asset classes, all within the robust framework of longstanding institutional communication networks.

Both Kraken and Intercontinental Exchange have expressed their intentions to further develop and broaden this integration in the coming periods. Such expansions underscore the ongoing industry-wide initiatives aimed at seamlessly incorporating digital asset trading into the core structures of traditional financial marketplaces.

Kraken’s dedicated OTC desk specializes in handling substantial block trades across both cryptocurrency spot markets and options trading. Meanwhile, Intercontinental Exchange, the operator of ICE Chat and owner of the New York Stock Exchange, delivers essential services including market data, clearing solutions, and advanced technology infrastructure to participants in worldwide financial ecosystems.

This development comes shortly after Kraken’s recent commitment, announced earlier in the week, to back US President Donald Trump’s proposed “Trump Accounts.” This initiative represents a savings program designed specifically for Americans younger than 18, highlighting Kraken’s alignment with emerging financial policies that incorporate cryptocurrency elements.

ICE Deepens Its Footprint in Crypto and Tokenized Asset Markets

Over the course of the last year, Intercontinental Exchange has significantly intensified its engagement with digital asset ecosystems. The company has ventured far beyond its roots in conventional exchange operations, branching into areas like blockchain-based data services, prediction markets, and cryptocurrency payment solutions.

During August, ICE forged a key partnership with Chainlink, a leading blockchain oracle provider. This alliance focuses on delivering onchain data for foreign exchange rates and precious metals pricing. It incorporates ICE’s Consolidated Feed—a comprehensive aggregator that compiles pricing information from over 300 exchanges and marketplaces around the world—directly into Chainlink’s innovative Data Streams service.

In October, ICE committed a substantial $2 billion investment to Polymarket, a prominent prediction market platform powered by cryptocurrency. This infusion valued the company at an impressive $9 billion on a post-money basis. Later, in December, ICE initiated talks to support MoonPay, a cryptocurrency payments firm, during its upcoming funding round. Reports suggest MoonPay is targeting a $5 billion valuation, although specifics regarding the extent of ICE’s prospective investment remain undisclosed.

Major exchanges like Nasdaq and the New York Stock Exchange have similarly accelerated their activities in the cryptocurrency space, with a particular emphasis on the tokenization of equity instruments. In September, Nasdaq submitted a formal filing to the US Securities and Exchange Commission, requesting a rule modification to enable the trading of tokenized stocks.

Then, in January, the NYSE unveiled ambitious plans to launch a round-the-clock trading venue dedicated to tokenized stocks and exchange-traded funds (ETFs). This platform would merge the exchange’s proprietary Pillar matching engine with blockchain-enabled systems for post-trade settlement, pending necessary regulatory clearances.