Formance Integrates Kraken Pro Connector for Seamless Exchange-Fiat Reconciliation
Formance, an open-source ledger infrastructure provider, has integrated a Kraken Pro connector into its platform. This new connector allows teams to reconcile exchange and fiat activity in one place.
The connection brings Kraken Pro accounts, balances, orders, and conversions into the Formance ledger, alongside bank and custody data. This removes the need for manual matching of records from two separate systems, a process that can be time-consuming and prone to errors.
Each Kraken Pro account maps to its own Formance account, allowing teams with multiple accounts to keep their ledger entries distinct. Balances sync for every asset on Kraken Pro, including fiat and crypto currencies, and refresh on a schedule.
The connector is read-only for now, with order placement and trade execution planned for the future. This matters because assets held on an exchange are considered counterparty exposure, not direct custody.