Every decision we make comes back to one principle: Building the best possible experience for our clients. That’s why we are proud to announce that Kaiko has ranked Kraken as the #1 global crypto exchange for Q3 2025 – our first-ever top finish, completing our steady rise from #3 in Q1 2025 and #2 in Q2 2025.

This recognition is about more than where we stand now. It’s about how we got here: By listening to our clients, strengthening our infrastructure and pushing the industry forward with transparency and trust.

First off, who is Kaiko?

Kaiko is one of the world’s leading providers of digital asset market data. Its quarterly exchange ranking methodology evaluates global trading venues across a wide range of criteria including governance, security, technology, liquidity, business and data quality. The ranking is widely followed by institutions, regulators and market participants, making it a meaningful benchmark of exchange quality and reliability.

Climbing to #1: What the ranking reveals

Our top position in Kaiko’s Q3 2025 ranking highlights categories where Kraken continues to lead:

Security

Kraken earned a 100 – the highest possible security score and six points higher than any other exchange. This reflects our uncompromising approach to asset protection, robust custody systems and industry-leading safeguards. Clients trust us with their financial freedom and we take that responsibility seriously.

Data quality

Accuracy, timeliness and transparency are essential for client confidence. We regularly publish our Proof of Reserves and our real-time data feeds empower traders and institutions with unparalleled clarity.

Liquidity

Deep order books and tight spreads make for smoother execution at the price you want. Our liquidity ensures clients – from everyday traders to global institutions – can trade with efficiency and confidence.

Business strength

From product breadth to executive leadership, our business fundamentals remain strong. This reflects both our innovative spirit and our strong foundation which enable us to continue delivering for clients.

Together, these pillars reinforce what matters most: Building a leading platform that clients can rely on every day.

All based on our client-first philosophy

That’s because every high mark ties back to a simple truth: Clients deserve a platform they can rely on.

• Security means peace of mind
• Data quality means confidence in every trade
• Liquidity means fairness and efficiency
• Business strength means innovation for the long run

These are not abstract metrics – they are the lived experience of Kraken clients.

“Reaching #1 is a powerful milestone, but it’s only the beginning. Our 100-out-of-100 score in Security shows how client protection is always our non-negotiable first priority,” said Kraken co-CEO Arjun Sethi.

“When you pair that with deep liquidity, transparent data and relentless innovation, you build more than an exchange – you build trust. That’s what Kraken stands for and that’s how we’ll continue to accelerate the global adoption of crypto.”

Building better from the #1 spot

Our rapid rise through Kaiko’s rankings is proof that prioritizing clients drives sustainable growth. It validates our vision of a crypto ecosystem that is transparent, resilient and accessible for all.

We’re proud to be leading the industry in 2025. But more importantly, we’re excited for what comes next: Continuing to raise the bar for client experience, building new products and expanding global access to crypto.

Because at Kraken, #1 is not the finish line – it’s the foundation for the future.