Kraken, a cryptocurrency exchange preparing to list in the United States early next year, said it has launched an invitation-only VIP program for ultra-high net worth individuals, experienced traders and strategic capital allocators.
Cryptocurrency exchanges are looking to fill the gap in providing high-touch services to wealthy individuals, family offices and private clients. Recently, Binance, the largest cryptocurrency trading platform, launched a “prestige” product for customers with a net worth of up to $10 million.
Kraken VIP includes “elevated customer service and an exceptional experience,” according to a press release. Each membership is paired with a dedicated VIP relationship manager, providing 24/7 support, direct multi-channel access, and early insight into Kraken’s complete product ecosystem.
According to press materials, VIPs will also have access to Kraken’s subject matter experts covering products, engineering, liquidity, custody and infrastructure, providing deep insights into their trading experience.
Arjun Sethi, co-CEO of Kraken, said: “Ultra-high net worth clients don’t just come to us for speed, they come to us because they want a partner that meets their ambitions and understands true scale. Kraken VIP is built for them. It provides unprecedented access, reach and a premium experience that doesn’t exist anywhere else in the digital asset ecosystem.”
Kraken also offers its VIPs “extraordinary experiences” such as Formula 1 racing, football, cultural events and intimate area gatherings not available to the general public.
Kraken VIP membership requires an average balance on the platform of $10 million, or an annual trading volume of $80 million.