Kraken has integrated its over-the-counter (OTC) trading desk with ICE Chat, the institutional messaging platform operated by Intercontinental Exchange (ICE). Announced on February 17, 2026, the move enables more than 120,000 ICE Chat users to directly engage with Kraken’s OTC desk through the same system they use for traditional financial market activity.
With this integration, Kraken becomes the first cryptocurrency platform approved to connect with ICE Chat. The development marks a meaningful step in aligning digital assets with established financial market infrastructure.
How the Integration Works
The integration allows institutional traders to communicate with Kraken’s OTC desk directly within ICE Chat, eliminating the need to log into separate crypto trading platforms. ICE Chat is widely used by banks, brokers, hedge funds, and trading desks for real-time negotiation and execution across equities, fixed income, commodities, and derivatives.
Kraken’s OTC desk focuses on large block trades in crypto spot and options markets. These trades are typically structured to minimize price slippage and market disruption, which is especially important for institutions managing sizable positions.
By embedding its services into ICE Chat, Kraken simplifies access to crypto liquidity while keeping the trading process inside familiar, regulated communication channels.
Why This Matters for Institutional Adoption
One of the key challenges in institutional crypto adoption has been workflow disruption. Large financial firms operate within tightly integrated systems for compliance, reporting, and communication. Introducing separate crypto platforms often creates operational friction.
ICE Chat includes compliance-focused tools such as AI-powered Smart Text Recognition, which helps firms monitor and archive trade-related communications. By integrating into this infrastructure, Kraken aligns its services with institutional compliance standards rather than requiring firms to adapt to new systems.
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Kraken Institutional Head Gurpreet Oberoi described the integration as opening “a direct line into core institutional workflows,” underscoring the company’s strategy of embedding crypto access within traditional finance environments.
ICE’s Broader Push Into Digital Assets
The integration also reflects ICE’s expanding footprint in crypto and tokenized markets. The exchange operator, which owns the New York Stock Exchange, has moved beyond traditional exchange infrastructure into blockchain data services and digital asset investments.
Recent initiatives include partnerships to bring market data on-chain, investments in crypto-based platforms, and reported discussions around backing crypto payments firms. These steps highlight ICE’s growing commitment to digital asset infrastructure.
For the broader crypto market, the move reinforces the trend of deeper institutional involvement. As digital assets become more embedded in mainstream financial systems, infrastructure improvements like this could attract additional capital and strengthen overall market maturity.
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FAQs
Kraken’s OTC desk is now accessible through ICE Chat, letting institutions trade crypto within their existing financial messaging system.
ICE Chat is widely used by banks and hedge funds for compliant trade communication, making crypto access smoother and regulated.
It signals ICE’s deeper push into digital assets, linking traditional finance infrastructure with crypto markets.
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