Kraken integrated its over-the-counter desk with ICE Chat on Tuesday, becoming the first cryptocurrency platform approved to connect to the messaging network operated by Intercontinental Exchange.
The integration provides access to more than 120,000 institutional traders, banks and brokers who use the platform for traditional asset trading.
ICE Chat functions as a real-time communication system used across global financial markets for negotiating and executing trades in equities, fixed income, commodities and derivatives.
Kraken's approval places cryptocurrency liquidity directly inside workflows already used by institutional desks.
Workflow Integration
Kraken's OTC desk handles large block trades in cryptocurrency spot and options markets, typically negotiated privately rather than executed on public order books.
Institutional participants can now access Kraken's trading desk through the same messaging interface they use for traditional assets, eliminating the need for separate cryptocurrency-specific communication channels.
The companies stated they expect to expand the integration over time. Intercontinental Exchange owns the New York Stock Exchange and provides data, clearing and technology services across major asset classes.
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Broader Exchange Group Crypto Activity
Intercontinental Exchange has expanded its cryptocurrency-related initiatives over the past year.
In August 2025, ICE partnered with blockchain oracle provider Chainlink (LINK) to integrate foreign exchange and precious metals pricing data from more than 300 global exchanges into blockchain networks.
In October, ICE invested $2 billion in prediction market platform Polymarket, valuing the company at $8 billion pre-money. Traditional exchange operators including Nasdaq and the NYSE have advanced tokenization initiatives over the past year, with regulatory filings seeking approval to list tokenized stocks and 24-hour trading platforms.
Kraken parent company Payward reported 33% revenue growth for 2025, reaching $2.2 billion in adjusted revenue as transaction volume increased 34% to $2 trillion. The company filed a confidential draft U.S. IPO registration in November 2025.
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