Formance Adds Kraken Pro Connector for Exchange and Fiat Reconciliation

NEW YORK, NY, UNITED STATES, September 30, 2026 /CourierPR/ -- Formance, a company that builds open-source ledger infrastructure for fintech, payments, and financial operations teams, has introduced a new Kraken Pro connector. This tool allows teams to reconcile their exchange and fiat activities in a single ledger, streamlining the process and improving audit efficiency.

The Kraken Pro connector integrates accounts, balances, orders, and conversions from Kraken Pro into Formance's platform. Previously, teams holding assets on Kraken Pro had to maintain two sets of records: their own ledger and Kraken's. This often involved exporting CSVs of fills and conversions and manually matching them, a time-consuming process that slowed down audits. The new connector removes this step by pulling exchange data into Formance through a standardized data model and API, where it runs through the same reconciliation workflows as data from other connected providers.

Each Kraken Pro account maps to its own Formance account, allowing teams with multiple accounts to connect each one separately and keep their ledger entries distinct. Balances sync for every asset on Kraken Pro, including both fiat and crypto, and refresh on a schedule. Orders come through with their side, quantity, price, and fees, and each conversion, such as USD to USDC, appears as two movements, one for each side of the trade, rather than a single entry that hides what happened. The connector is currently read-only, with order placement and trade execution on the roadmap.

With continuous reconciliation, finance and treasury teams can see exactly what they hold on Kraken at any moment, with an audit trail, instead of confirming it only at month-end close. This means that crypto and fiat no longer need to live in separate systems. Formance stores each asset at its native precision, so ETH on Kraken Pro keeps its 18 decimal places while USD from a bank connector keeps its two, with nothing converted to a base currency or rounded along the way.

The Kraken Pro connector joins the Fireblocks and Coinbase Prime connectors in the Formance Connectivity module, and teams already using either one can add Kraken Pro without changing how their ledger is structured. Setup takes a read-only API key from Kraken Pro account settings, added to the Formance connector configuration, and IP whitelisting on the Kraken account. Full details are available in the announcement on the Formance blog.