The Crypto-as-a-Service (CaaS) platform from Kraken, in partnership with Alpaca, opens new opportunities for integrating cryptocurrencies into traditional finance.
Issues of Crypto Integration into Traditional Finance
Kraken has introduced its new Crypto-as-a-Service (CaaS) platform, allowing over 200 Alpaca clients to offer crypto trading, yield, and custody services. This marks a significant step towards simplifying the integration of crypto services into existing financial systems.
Bank Interest in Stablecoins
According to Brett McLain, Head of Payments and Blockchain at Kraken, the interest from banks in stablecoins is increasing. Banks are planning to create their own stablecoins or utilize existing ones, necessitating reliable infrastructure support.
Regulatory Compliance in the Crypto Industry
The CaaS system includes KYC/KYB compliance, allowing clients to launch their services more quickly. This aligns with a broader trend in financial technology, where crypto services are embedded just like traditional banking services.
The launch of Kraken's Crypto-as-a-Service platform could transform the integration of cryptocurrencies into traditional finance, providing companies with the necessary tools to advance in the crypto industry.
