Comparison · 2026 edition
Kraken vs OSL: crypto liquidity compared 2026.
Kraken and OSL side by side in the Crypto Exchange and Liquidity for Businesses Index 2026: scores, evidence, published facts and awards.
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Kraken and OSL side by side in the Crypto Exchange and Liquidity for Businesses Index 2026: scores, evidence, published facts and awards.
In the Crypto Exchange and Liquidity for Businesses Index, Kraken scores higher overall: 4.5 out of 5 (90 out of 100) against 2.9 (58), ranking 1 and 5 of 12. Kraken also scores higher in every segment.
Overall and segment scores out of 100, and the score out of 5.
| Score | Kraken | OSL |
|---|---|---|
| Score out of 5 | 4.5 | 2.9 |
| Score out of 100 | 90 | 58 |
| Overall rank | 1 of 12 | 5 of 12 |
| For payment and fintech firms (out of 100) | 91, rank 1 | 59, rank 5 |
| For funds and trading firms (out of 100) | 90, rank 1 | 59, rank 5 |
| For corporate treasuries (out of 100) | 90, rank 1 | 55, rank 6 |
| Type | Exchange with OTC desk | Licensed exchange and stablecoin payments platform |
Each score with the evidence behind it.
| Criterion | Kraken | OSL |
|---|---|---|
| Regulatory standing | 5/5 Licences and registrations in the EU, UK, US and Australia with numbers published. | 5/5 Licences in Hong Kong, Austria and Germany published. |
| Published pricing | 5/5 Full maker and taker table to institutional volume tiers published; OTC spreads not published. | 1/5 All-in OTC pricing stated; spreads not published. |
| Asset and currency coverage | 4/5 550+ assets and six major fiat currencies published. | 3/5 38+ assets and 20+ fiat currencies published. |
| Execution access | 5/5 OTC chat, RFQ, FIX API and 24/7 access published. | 4/5 OTC desk, RFQ, API and 24/7 support published; FIX not stated. |
| Settlement | 3/5 Settlement within 24 hours to account, bank or wallet stated; payment rails and settlement from a third-party custodian not stated. | 3/5 Local rails and card and bank transfer stated; credit and custody settlement not stated. |
| Security assurance | 5/5 ISO 27001:2022 and SOC 2 Type 2 published, with proof of reserves. | 0/5 Not published on the pages read. |
Each criterion is scored 0 to 5 against the best published offer in the Crypto Exchange and Liquidity for Businesses Index. 0 means not offered or not published. How it is scored
What each provider publishes on its own pages, read on 26 October 2026.
| Fact | Kraken | OSL |
|---|---|---|
| Regulatory standing | Disclosures page: Payward Europe Solutions Limited, crypto-asset service provider regulated by the Central Bank of Ireland; Payward Services Limited, authorised by the FCA as an e-money institution (FRN: 1010381); Payward Limited, registered with the FCA as a cryptoasset business; Payward Interactive, Inc., US state money transmitter licences (NMLS ID 1843762); Bit Trade Pty Ltd, registered with AUSTRAC. | Site lists Hong Kong SFC "Type 1 / 4 / 7 / 9 Licenses & AMLO"; OSL EU GmbH is "an authorised Crypto-Asset Service Provider regulated by the Austrian Financial Market Authority under the Markets in Crypto-Assets Regulation (MiCAR)"; DLT Securities GmbH regulated by BaFin (BaFin ID 10159536). Japan FSA also listed. |
| Pricing | Spot maker and taker fees by 30-day volume, from Tier 1 ($0+): 0.40% maker, 0.80% taker, to Pro 5 ($500M+): 0.0% maker, 0.05% taker. Chat and RFQ trades: "the quoted price is all-inclusive and already reflects Kraken's spread and fees." | Fees page: Flash Trade and OTC Trade are "All-in price", with no additional fees; spreads not published; standalone custody fees "are bespoke and determined on a client-by-client basis". |
| Asset and currency coverage | "550+ Supported assets across trading and custody"; OTC portal: "trade 150+ pairs in seconds". Fee page names USD, GBP, CAD, AUD, EUR and CHF as major currencies. | Accounts hold "13+ stablecoins, 38+ digital assets and 20+ fiat currencies"; payouts "to 170+ countries in 129 currencies". |
| Execution access | OTC desk: "Chat or RFQ"; self-service RFQ portal; "Connect via API, WebSockets, REST and FIX 4.4"; "24/7 markets"; option to colocate. | "Institutional OTC, RFQ and liquidity" with "24/7 desk support"; institutional API documentation published. FIX not stated. |
| Settlement | "Settle trades within 24 hours using your Kraken account, your bank and/or an external wallet." OTC lending: "a minimum loan size of $500,000". | "24/7 on-chain settlement"; merchant payouts "via local rails"; fiat on-ramp by "Card and bank transfer". |
| Security | Site lists ISO/IEC 27001:2022, SOC 2 Type 2 for its qualified custody offering and SOC 2 Type 1 for custody and funding services; proof of reserves published. | Not published on the pages read. |
| Date read | 26 October 2026 | 26 October 2026 |
Not published or not stated by Kraken: published pricing and settlement.
Not published or not stated by OSL: pricing, execution access, security and settlement.
Facts read on 26 October 2026 from: kraken.com/institutions, kraken.com/institutions/otc, kraken.com/features/fee-schedule, kraken.com/legal/disclosures; and osl.com, osl.com/en/fees, osl.com/en/micar-marketing-disclosure-hub.
Awards follow from the published scores and cannot be bought.
From each provider's strongest criteria and published terms.
Businesses wanting exchange, OTC and API access with a full published fee table.
Asian and European businesses converting between stablecoins and fiat.
Tell us what you need and where you operate.