Introducing the Kraken OTC Desk

Last updated: 2025. dec. 10.

What is the Kraken OTC Desk?

Kraken’s over-the-counter (OTC) desk offers a premium service that allows traders to execute orders off the open Kraken exchange. We offer deeper liquidity for tighter spreads as well as a more private, personalized service for institutional clients and high net-worth individuals needing to fill large orders. Kraken’s OTC desk provides execution and settlement services that are discreet, secure and ultra-competitive.

Eligible clients can trade OTC from Kraken Custody (for institutional clients), Kraken Pro, the Kraken Pro app and over chat. If you are an institutional client and would like to trade OTC, click the button below to complete our enquiry form:

Have a personal or business account? Please submit OTC enquiries here.

OTC frequently asked questions

Chat trading: We support trading for all assets listed on Kraken (with some exceptions due to geographic restrictions). Please contact our OTC desk with any trade inquiries.

OTC Derivatives: BTC and ETH are supported for options trading. OTC Derivatives is only available to OTC clients in certain jurisdictions. Geographic restrictions apply.

Request-for-quote (RFQ):
RFQ supports the following quote currencies: AUD, CAD, EUR, GBP, USD, USDC and USDT. RFQ supported cryptocurrencies can be found in the table below. Geographic restrictions apply.

Asset

Code

Algorand

ALGO

Aptos

APT

Arbitrum

ARB

Avalanche

AVAX

Bitcoin

BTC

Bitcoin Cash

BCH

Cardano

ADA

Celestia

TIA

Cosmos

ATOM

Chainlink

LINK

Dogecoin

DOGE

Ethereum

ETH

Flow

FLOW

Injective

INJ

Polkadot

DOT

Polygon

MATIC

Litecoin

LTC

Monero

XMR

Ripple

XRP

Solana

SOL

Stellar Lumens

XLM

Tether

USDT

Tezos

XTZ

USD Coin

USDC

We do not charge you any fees for our service. The bid or offer price we show is the 'all-inclusive' price.

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    Clients must be verified to conduct OTC trades over RFQ only. Clients must be verified for higher limits to conduct OTC trades over chat.

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    Minimum order size is 50,000 USD equivalent, however exceptions can be discussed on a case-by-case basis.

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    As with all Kraken funding methods, the name registered on your bank account has to match the name registered on your Kraken account

Kraken OTC does not custody assets on behalf of trading counterparties.

Institutional clients can enquire about Kraken Custody services for regulated, secure digital asset custody. Kraken Custody services are provided by Kraken Financial, a Wyoming-chartered Special Purpose Depository Institution. Kraken Financial is not an FDIC-insured bank and deposits are neither insured by nor subject to the protections of the FDIC.

What features are available with Kraken OTC?

RFQ in Kraken Pro and the Kraken Pro app:

You can request live quotes, execute orders and settle instantly using our request-for-quote (RFQ) feature in Kraken Pro and the Kraken Pro app.

Automated settlement allows you to trade via OTCs request-for-quote (RFQ) system with the balance in your Kraken account. For example, if you accept a quote to buy 10 BTC, our service will automatically debit your account balance for the cost of your trade and credit your account with BTC. You can find this feature on the Kraken OTC interface by selecting the automated settlement option prior to requesting a quote and your trade will be automatically settled to your account using the available balance. For more information on this feature visit our blog.

Access the dashboard for live price charts of your three most-traded coins, to get a view of your trading data (including information on your most-traded coins by volume and year-to-date trading volume), and for a dynamic view of your outstanding exposure.

Get detailed transaction information on your OTC spot and options* trades instantly, and click into individual trades for a detailed view of your past orders. You can also generate statements straight to your email.

You can also review your OTC spot order history on-the-go in the Kraken Pro app.

RFQ in Kraken Custody:

To view RFQ in Kraken Custody, institutional clients must be onboarded with Kraken OTC. Access to RFQ will be granted once quorum approval is received. Admins can then select which users have access to RFQ and set other controls.

You can request live quotes, execute orders and settle instantly using our request-for-quote (RFQ) feature in Kraken Custody (for institutional clients).

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    Automated settlement allows you to trade via the OTC desk's RFQ system with the balance in your custody vault in Kraken Custody. Funds settle to the same vault once the trade is executed. For example, if you accept a quote to buy 10 BTC, our service will automatically debit your custody vault balance for the cost of your trade and credit your account with BTC.

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    Automated settlement is the preset settlement method with Kraken Custody.

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    View all accepted, rejected and expired quotes within RFQ's quote history. Accepted RFQ trades will show a status of settled within quote history, confirming the trade has been settled to the selected vault.

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    Accepted RFQ trades will also appear in the transactions tab, alongside all other vault transfers. RFQ trades are reflected as either "RFQ - Buy" or "RFQ - Sell" in the type column of the transaction details. Click individual trades for a more detailed view of transactions.

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    RFQ transactions will be also visible within monthly statements, which can be generated on demand in Kraken Custody.

OTC desk:

OTC clients get personalized, high-touch service at every step, from initial expert consultation all the way through to trade execution, as well as trade reporting and market insights. We work with you throughout the process to answer all of your questions and build a long-lasting relationship.

Our team of experienced traders are strategically located around the globe and are available 24 hours a day, seven days a week. We can ensure you that you will receive excellent service, prompt settlement, and high levels of professionalism from our entire team.

We also offer flexible settlement to eligible clients which allows you to trade now and settle later (within 24 hours). Whether you are trading blocks of $50,000, €10,000,000 or 2,000 Bitcoin, the Kraken OTC desk will provide you with execution and settlement services that are discreet, secure and ultra-competitive.

We offer deeper liquidity and a private, more personalized service to institutions and high net-worth individuals needing to conduct large orders.

OTC derivatives:

Options trading is available to OTC clients in certain jurisdictions, which allows you to trade vanilla puts and calls with standardized expirations, or bespoke contracts with customizable terms such as strike, tenor and settlement. Clients may trade options outright or as combo strategies with netted pricing and collateral requirements. The OTC options desk seeks to provide deep liquidity and personalized service, and there are no fees for options trading.

A variety of structured products are available to OTC clients in certain jurisdictions. These products include total return swaps that are based on rolling call selling, rolling put selling, and basis trading. Additionally we offer principal-protected products which allow you to capture upside exposure while limiting downside. Products can be customized to client preferences with ease of settlement through the OTC desk.

*OTC derivatives products are only available to OTC clients in certain jurisdictions. Availability of products may vary by jurisdiction.

These materials are for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell, stake or hold any cryptoasset or to engage in any specific trading strategy. Some crypto products and markets are unregulated, and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the cryptoasset markets can lead to loss of funds. Tax may be payable on any return and/or on any increase in the value of your cryptoassets and you should seek independent advice on your taxation position.

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