Kraken Completes Acquisition of Crypto Facilities in 9-Figure Deal

Kraken Completes Acquisition of Crypto Facilities in 9-Figure Deal

Major exchange platform, Kraken has announced they have finalised a deal that sees taking ownership of the multi-level crypto business, Crypto Facilities.

The news broke today via a press release shared by Kraken in which they explained the new means that the pair combined “creates a global leader in cryptocurrency spot and futures trading”. London-based firm Crypto Facilities offer a blanket approach to crypto trading.

Who are Crypto Facilities?

They operate both as an exchange platform for leading cryptocurrency derivatives, as well as an industry-leading index provider. With the latter providing calculations for the CME CF Bitcoin Reference Rate that powers the CME Group’s Bitcoin futures.

They have become popular with traders thanks to their transparent service which is twinned with a low latency marketplace, operating under UK laws to ensure they have provided optimal integrity with everything they do. They will remain in London, however. With Kraken planning to make use of the regulatory benefits that Crypto Facilities’ license offers them. Which should help them make a larger impact on the UK market.

How Will It Benefit Users?

According to Kraken the deal, which is said to be in the billions, is an example of the exchange “meeting client demand for innovative products and services that complement its core spot exchange and white-glove OTC service.” The result is for customers that they gain access to six new cryptocurrency trading pairs and adding efficiency to their crypto trading experiences.

As you might expect, both sides of the deal spoke favourably about the new prospect of working together in the near future.

Jesse Powell, CEO Of Kraken explained he was “thrilled” to welcome them into the inner workings of his operation, and doubled down on the benefits it will have for users of Kraken. Stating “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’ve got great stuff in store for traders and institutional clients in 2019.”

While the founder and CEO of Crypto Facilities explained how, “It has been our mission to build the most sophisticated, powerful and user-friendly cryptocurrency trading platform.  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.”

Perfect Timing

As such, both teams seem thrilled about the prospects on offer from one another and it certainly seems like the best way for both companies to grow. As for the users’ benefits, they will, of course, be delighted to hear about more opportunities to trade and more means by which to take control over their trading.

The deal also comes at the perfect time as they rush to invest begins again with serious gains made over the weekend. With this new deal, Kraken becomes an even more enticing location to invest in than it was ever was before. The expansion for the exchange platform will likely only continue from here.

Register for Latest Updates & News

We respect your email privacy

Subscribe now to recieve exclusive updates and offers!

Recently Similar News

Latest Guides

Latest News

1xBit Guide: Crypto Sportsbook & Casino

The casino and sportsbook industry continues to witness an increase in the number of platforms within the space. This creates a challenge of identifying the best and most reliable sportsbooks that will offer you the most impressive services. In this guide, 1xBit shall be reviewed in terms of its service offerings and unique features that […]

11 January, 2022

XBE Community Launches a $500k Bug Bounty

Decentralized technology is built to attract the smartest and brightest brains from all over the world to work towards a common goal: free and fair financial systems. Despite the uncertainties surrounding future laws, DeFi protocols are rapidly adapting and growing to provide new ways for individuals to obtain more value from their money. And this […]

28 December, 2021

11 Biggest Sponsorships Deals for the Crypto Market in 2022

The global sports industry is looking to revamp its activities and recover from the after-shocks of the COVID-19 pandemic. Cryptocurrency platforms on the other hand have enjoyed immense growth and are searching for big platforms that can provide better brand visibility. That’s where sports and crypto make a perfect match with many global sports organizations […]

1 December, 2021

ChangeNOW Unveils a New Cashback Feature

ChangeNow offers crypto users smooth exchanges and doesn’t stop there. The exchange platform provides registered users a chance to profit from crypto swaps with cashback in NOW tokens through the ChangeNOW website. The cryptocurrency exchange and processing platform offer you an effortless way to turn your traffic into profit and boost your crypto journey. The […]

15 November, 2021

Celsius Casino is Raising the Temperatures with a Voluminous Game Lobby

Celsius Casino has become a go-to gaming destination for casino fans looking for an action-packed online gaming platform. The online casino boasts a robust game catalogue with over 4,000 games. The extensive game portfolio caters to Slots, Table Games, and Live Casino fanatics and is powered by well-known providers such as Evolution Gaming, NetEnt, and […]

9 November, 2021

ChangeNOW Has Announced the Release of its Own Digital Wallet

Limitless and swift crypto exchange platform ChangeNOW has released its own non-custodial NOW Wallet, facilitating fiat to crypto purchases and reliable crypto transactions from the comfort of a mobile phone. NOW Wallet is available in beta version for both iOS and Android devices and allows users to transact with over 20,000 currency pairs, regardless of […]

29 October, 2021

BitPanda Enhances Its BEST Rewards Programme

The EU-based cryptocurrency exchange, BitPanda, has improved its loyalty programme, BEST Rewards. It is now providing owners of its BitPanda EcoSystem Token (BEST) an additional 12% in potential revenue each year. Every registered BitPanda user who has BEST in his or her wallet and carries out at least one monthly trade will be eligible for […]

25 October, 2021

ChangeNOW’s AML Action Lead To The Return Of $15M COMP

Earlier this week, ChangeNOW announced that it was able to identify and return 45,505 COMP back to Compound. The estimated value of this recovery is around the $15m mark. This remarkable achievement is further proof of the effectiveness of the exchange’s Anti-Money Laundering (AML) procedures. In an announcement made on ChangeNOW’s website, the company provided […]

6 October, 2021