April 18, 2021

Kraken Exchange Acquires Crypto Derivatives Platform Crypto …

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.

Kraken has acquired crypto-derivatives platform Crypto FacilitiesAmerican cryptocurrency exchange ...

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..

Kraken has acquired crypto-derivatives platform Crypto FacilitiesAmerican cryptocurrency exchange ...

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.

Kraken has acquired crypto-derivatives platform Crypto FacilitiesAmerican cryptocurrency exchange ...

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 has acquired crypto-derivatives platform Crypto FacilitiesAmerican cryptocurrency exchange ...

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..

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