Kraken has acquired Crypto Facilities, a crypto derivatives platform
US-based Cryptocurrency Exchange Kraken has acquired regulated crypto-derivatives trading platform and index provider Crypto Facilities. The only thing known about the amount of the transaction is that it is at least $ 100 million, writes CoinDesk.

The acquisition is expected to expand the derivatives capabilities of Kraken’s customers. Kraken CEO Jesse Powell said that with the purchase of Crypto Facilities, his company will be able to “significantly accelerate” progress on its roadmap and save years that would otherwise have to be spent on obtaining licenses and permits necessary to provide related services in Europe..

Crypto Facilities was founded in 2014 and is registered with the UK Financial Conduct Authority (FCA). In addition to serving Bitcoin, Bitcoin Cash, XRP, Litecoin, and Ethereum futures, the company is known for providing data for the CME CF Bitcoin Reference Rate Index, which underpins the Chicago Mercantile Exchange’s Bitcoin futures. All 25 Crypto Facilities employees will continue to work for the company.

Powell stated that with the support of Crypto Facilities, they expect to improve the competitiveness of their trading platform. “Our goal is to create the most liquid futures exchange,” he said..

Kraken’s CEO also said the company plans to close a $ 4 billion fundraising round in the coming weeks and deliberately ditched venture capital by sending out an investment offer to its largest clients. “The reason we don’t want more venture capital is because we don’t need money. In the long run, it makes more sense to build a business, most of which will be owned by customers. We would like to ultimately align our interests with those of our customers, ”Powell added..
Similar articles
-
The Kraken exchange announced the growth of interest in cryptocurrencies and decided…
The Kraken exchange announced the growth of interest in cryptocurrencies and decided to increase the staff While many companies are forced to reduce labor resources, the exchange…
-
Huobi Exchange Launches Cryptocurrency Derivatives Platform…
Huobi Exchange Launches Cryptocurrency Derivatives Platform Huobi Global this Wednesday announced the launch of a new cryptocurrency platform…
-
Binance Showcased Its Decentralized Exchange For The First Time…
Binance Showcases Its Decentralized Exchange in Operation for the First Time Binance Exchange Holds its First Demonstration of Its Work in Development…