Crypto Facilities Receives MTF Licensing

Crypto Facilities Receives MTF Licensing

A subsidiary of leading exchange platform, Kraken called Crypto Facilities has received a Multilateral Trading Facility (MTF) license from the Financial Conduct Authority (FCA).

The obtainment of the MTF license makes them the first cryptocurrency company to hold this license and will allow them to expand its product range and better serve institutional clients that must use licensed platforms. Furthermore, it will also mean they are able to offer leverage on cryptocurrencies. This means users won’t have to hold bitcoin or other cryptos without having to hold the product.

The CEO and Cofounder of Kraken, Jesse Powel, “We undergo these licensing efforts because Kraken is about making crypto accessible for everyone,” before continuing “This particular license means that a sophisticated class of investors, limited by their own requirements to interface with a regulated venue such as an MTF, will now have access to crypto derivatives in Europe for the first time. More participants means more liquidity and a better experience for everyone.”

Crypto Facilities has been under the Kraken umbrella since June last year when they took over the reins of the London-based firm. This was the first in a long line of acquisitions over the last 12 months, which also saw them obtain Australian OTC firm, Bit Trade.

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