Kraken Links OTC Desk to ICE Chat, Expanding Institutional Access
Kraken has integrated its over-the-counter (OTC) trading desk with Intercontinental Exchange’s ICE Chat, allowing institutional users of the messaging platform to access the exchange’s crypto liquidity directly within their established trading workflows.
ICE Chat connects more than 120,000 market participants, including banks, brokers and trading desks, and is used for real-time negotiation and execution. The connection enables those clients to communicate with Kraken’s OTC desk from within the system they already use for deal flow.
Kraken said it is the first cryptocurrency platform approved to connect to ICE Chat, placing its digital asset liquidity alongside traditional asset classes within institutional communications infrastructure. The companies said they plan to broaden the integration over time as part of wider efforts to embed digital assets into traditional market systems.
Kraken’s OTC desk supports large block trades across crypto spot and options markets. Intercontinental Exchange, which operates ICE Chat and owns the New York Stock Exchange, provides data, clearing and technology services to global financial markets.
The announcement follows Kraken’s statement on Monday that it would support U.S. President Donald Trump’s proposed “Trump Accounts,” a savings program for Americans under 18.
ICE increases activity in crypto and tokenized markets
Intercontinental Exchange has expanded its digital asset initiatives over the past year, moving beyond traditional exchange operations into blockchain data, prediction markets and crypto payments.
In August, ICE partnered with blockchain oracle provider Chainlink to bring foreign exchange and precious metals data onchain. The collaboration integrates ICE’s Consolidated Feed—which aggregates pricing from more than 300 global exchanges and marketplaces—into Chainlink’s Data Streams.
In October, ICE invested $2 billion in crypto-based prediction market Polymarket, valuing the company at a reported $9 billion post-money.
In December, ICE entered discussions to back crypto payments company MoonPay in its latest funding round, which is reportedly seeking a $5 billion valuation. The size of ICE’s potential investment was not disclosed.
Traditional exchange operators have also advanced tokenization efforts. In September, Nasdaq filed a request with the U.S. Securities and Exchange Commission seeking approval to list tokenized stocks through a proposed rule change. In January, the NYSE announced plans to develop a 24/7 trading platform for tokenized stocks and ETFs, combining its Pillar matching engine with blockchain-based post-trade settlement systems, subject to regulatory approval.
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