We’re excited to announce that following a complete evaluation, our certified custody answer, Kraken Custodyhas been authorised by the Ethena Danger Committee (ERC) to assist custody of backing belongings for USDe.
The ERC is an impartial committee elected by Ethena DAO governance tasked with assessing danger elements for the Ethena Protocol. The engagement reinforces Ethena’s give attention to disciplined danger administration and institutional-ready infrastructure.
Kraken Custody is a professional digital asset custodian operated by our U.S. state-chartered financial institution. Constructed for stylish institutional purchasers, the platform helps lively operational workflows whereas sustaining robust controls round transparency, asset segregation and safety.
Property held on behalf of Ethena are maintained one-to-one in absolutely segregated, bankruptcy-remote, cold-storage vaults – aligned with institutional greatest practices for asset safety and operational resilience.
Gurpreet Oberoi, Head of Kraken Institutional: “This engagement displays our capacity to assist complicated institutional workflows with strong safety and compliance requirements. Kraken Custody brings collectively regulatory readability, strong controls and deep operational experience to assist essential infrastructure for digital asset markets.”
Man Younger, Founding father of Ethena: “For Ethena, custody is a core danger choice. Deciding on Kraken Custody reinforces the Ethena Danger Committee’s dedication to scaling USDe on infrastructure constructed to satisfy institutional expectations. The depth of Kraken Custody’s regulatory framework, operational controls and safety structure carefully aligns with how we outline the stewardship of USDe’s backing belongings.”
Kraken Custody safety structure incorporates a number of layers of safety, together with {hardware} safety modules (HSMs) and multi-party computation (MPC), supported by our in-house safety groups. Kraken Custody helps a broad vary of digital asset organizations, together with publicly listed digital corporations, enterprise corporations, asset managers, hedge funds and funding funds.
Starting in January 2026, Kraken Custody will take part in Ethena’s ongoing transparency processes, together with month-to-month custodian attestations and weekly Proof of Reserves reporting, supporting enhanced visibility into the backing of USDe.
