We’re excited to announce that following a complete evaluation, our certified custody resolution, Kraken Custody, has been authorised by the Ethena Threat Committee (ERC) to help custody of backing belongings for USDe.
The ERC is an unbiased committee elected by Ethena DAO governance tasked with assessing danger components for the Ethena Protocol. The engagement reinforces Ethena’s deal with disciplined danger administration and institutional-ready infrastructure.
Kraken Custody is a certified digital asset custodian operated by our U.S. state-chartered financial institution. Constructed for classy institutional shoppers, the platform helps energetic operational workflows whereas sustaining robust controls round transparency, asset segregation and safety.
Belongings held on behalf of Ethena are maintained one-to-one in totally segregated, bankruptcy-remote, cold-storage vaults – aligned with institutional finest practices for asset safety and operational resilience.
Gurpreet Oberoi, Head of Kraken Institutional: “This engagement displays our capacity to help advanced institutional workflows with sturdy safety and compliance requirements. Kraken Custody brings collectively regulatory readability, sturdy controls and deep operational experience to help important 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 Threat Committee’s dedication to scaling USDe on infrastructure constructed to fulfill 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.