Kraken Becomes More European and Buys Crypto Facilities

Kraken Becomes More European and Buys Crypto Facilities

San Francisco-based Cryptocurrency Exchange Kraken announced the acquisition of the European regulated derivatives trading platform and index provider Crypto Facilities according to a press release published by the company.

In a nine-figure deal, its largest acquisition to date and one of the most significant purchases in the crypto market history, Kraken bought the London-based startup Crypto Facilities in an effort to meet client demand for new products and innovation. With the acquisition, Kraken will become “a global leader in cryptocurrency spot and futures trading.”

In a separate announcement, the company highlighted that Kraken has become the first crypto exchange to offer spot and futures trading to clients. “Say bye-bye to the days of switching back-and-forth between exchanges. Whether you want your crypto delivered now or in the future, keep track of one account, in one place, and do it all with your many-tentacled friend who you’ve known and trusted since 2013.”

Kraken said that eligible “clients will gain access to futures on six cryptocurrency pairs, providing a highly efficient way to trade and hedge cryptocurrency in any market environment.” It will be possible as Crypto Facilities offers 24/7 trading for cryptocurrency derivatives, as well as cryptocurrencies indexes like the CME CF Bitcoin Reference Rate that powers the CME Group’s Bitcoin futures.

In the press release, Kraken CEO Jesse Powell highlighted the excitement in Kraken for the new services that Crypto Facilities will provide to the Kraken family. “We are excited to introduce eligible clients to these industry leading futures and index products.  Over the coming months, our teams will continue to enhance and expand these offerings. We have got great stuff in store for traders and institutional clients in 2019.”

On the other hand, Crypto Facilities will now focus on the further innovation of their products. “It has been our mission to build the most sophisticated, powerful and user friendly cryptocurrency trading platform,” Crypto Facilities CEO and Founder Timo Schlaefer said. “Teaming up with Kraken allows us to innovate the next generation of products and tremendously boosts the value we are able to provide to our clients.”

Kraken is based in San Francisco, but Crypto Facility will remain in London as the company wants to the profit from the regulatory framework in England under the surveillance of the Financial Conduct Authority.

It reflects “Kraken’s commitment to the UK as the leading financial and cryptocurrency hub in Europe,” the press release says.

If you would like to find out more about Kraken, click here to read a detailed review on this Cryptocurrency Exchange.

Recently Similar News

cex-promotion exmo-promotion

Latest Guides

Latest News

Changelly,Exchange Platforms,Listings,Trading

NEBL Latest Coin To Join Changelly

A new partnership between Changelly and the Nebilo blockchain has meant that the latter’s native token will be made available on Changelly and used for instant swaps. This will be the latest crypto assets to join the list of 150 assets already available on Changelly. However, they will be the first instant exchange service to […]

20 November, 2019
Binance,Fiat,Investment,Turkey

Binance Now Supports Turkish Lira

Binance has launched a new Turkish Lira (TRY) fiat gateway and development plans that will open up further trading possibilities in Turkey. The news came via a speech from the Binance CEO, CZ Zhao, via a keynote speech at the Turkish Capital Markets Summit. This will mean that would-be traders out there who hold Turkish […]

20 November, 2019
Europe,Exchange Platforms,Exmo,Partnership

EXMO and RACIB Discuss “Strategic Partnership”

It was revealed yesterday that cryptocurrency exchange platform EXMO and RACIB, an association focused on developers and users of blockchain and the interests of a digital economy, have undergone talks to build a new partnership together. While the talks began last week, 12th November, the news dropped just yesterday – which bodes well for the […]

19 November, 2019
DAI,DeversiFi,MakerDAO,Updates

DeversiFi are Searching for Owners of Phantom Wallets

DeversiFi have looked to their community to help find the owners of a selection of wallets that currently own DAI which may be affected as the coin prepares for an upgrade. As we have previously reported, exchange platforms are gearing up for a significant changes to MakerDAO’s stablecoin, DAI. This change will see that DAI […]

19 November, 2019
Kraken,Listings,Staking,Updates

LSK To Be Listed on Kraken Tomorrow

The token of Lisk (LSK) will go live on Kraken tomorrow afternoon, 19th November, after a news post today confirmed the listing of the DPoS token This is the second token in as many weeks to be listed on Kraken after a flurry of new additions to their trading options over the last couple of months, […]

18 November, 2019
CFD,eToro,Research,Trading

eToro’s Research Tab Helps Make “Better Trading Decisions”

CFD trading platform, eToro has stated that the research tab they offer “will help you make better trading decisions”. The exclusive option on the platform is powered by TipRanks and promises to help users attain a further level of knowledge which can help you make improved and more informed decisions about your investment choices. The […]

18 November, 2019
localbitcoins,Money Laundering,Regulation

LocalBitcoins Receives Important Accreditation

In its latest step as a company, the peer-to-peer cryptocurrency exchange, LocalBitcoins has been recognised by an important financial body in Finland to be an Official Virtual Currency Provider. This is an important event for the platform as due to recently changed legalisation in Finland, it only companies registered as such that are allowed to […]

17 November, 2019
Binance,Exchange Platforms,Mobile

A Limited-Edition HTC Exodus 1 With Binance Support Released

In a new partnership between two powerhouses in their respected fields, HTC and Binance, a new phone has been released with the benefits of both firms installed. The new device will be known as the Exodus 1: Binance Edition, due to the fact it will come with Binance-Chain support and so you can benefit from […]

16 November, 2019