At Kraken, we’re dedicated to constructing a safe and trusted platform for our purchasers. Over the previous few years, we’ve considerably strengthened our world compliance framework – investing deeply within the individuals, processes and methods that maintain our platform safe.
We lately reached a key milestone in that journey: the completion of a multi-year effort to boost our sanctions compliance program throughout the board. This achievement displays not solely our ongoing engagement with regulators – together with the finalization of commitments made in previous years – but in addition the continuing development of Kraken’s method to threat, oversight and operational excellence.
As a part of our ongoing work with U.S. regulators, Kraken lately accomplished its third and ultimate certification with the U.S. Division of the Treasury’s Workplace of International Belongings Management (OFAC) – an exterior validation of the sturdy controls and processes we’ve put in place to handle sanctions threat.
A companywide effort towards a typical aim
What started as an initiative to boost our sanctions controls rapidly developed into one thing a lot greater: An overarching effort to construct one of the vital sturdy, scalable and future-proof compliance packages within the trade.
What powers compliance at Kraken:
- GeoIP firewalls & VPN screening
Refined instruments that proactively limit unauthorized entry based mostly on geographic and community indicators. - Complete screening throughout the board
Finish-to-end product, consumer, and transaction-level screening to make sure real-time threat detection. - Over 100 embedded inner controls
Automated checks and balances constructed into each layer of Kraken’s infrastructure. - Upgraded insurance policies, procedures and processes
A ground-up redesign of how compliance is approached throughout groups and workflows. - Rigorous threat assessments, audits and coaching
Common evaluations and company-wide schooling to maintain our defenses sharp and aligned. - Sanctions controls at each layer
Holistic safeguards built-in all through Kraken’s structure. - Regulatory benchmarking and licensing growth
Instruments and requirements that allow smoother licensing and sooner time-to-market globally. - Proactive engagement with regulators
Open, constructive dialogue that helps form considerate, efficient regulation. - Enhanced due diligence for buyers, M&A and product launches
Strategic compliance built-in into how we develop.
Each one in all these upgrades is a step towards our bigger aim: making Kraken essentially the most trusted and safe venue for crypto. Collectively, these capabilities assist defend our purchasers, strengthen belief and reinforce Kraken’s position as a accountable trade chief.
Constructed for scale, designed for belief
Robust compliance isn’t nearly threat discount – it’s a strategic benefit. With these enhancements, Kraken is ideally positioned to:
- Broaden our enterprise into new international locations and with new merchandise
- Foster stronger banking relationships
- Navigate regulatory environments with confidence
- Cut back audit and operational threat
- Help sooner, safer progress throughout markets
The compliance infrastructure we’ve constructed is scalable, resilient, and dynamic – designed not solely to fulfill at this time’s calls for however to anticipate these of tomorrow. We’re happy with how far we’ve come and much more excited for the place we’re headed. As a result of at Kraken, constructing responsibly isn’t only a aim. It’s how we prepared the ground, create a safer trade ecosystem and speed up crypto adoption.
