Kraken Has Purchased Crypto Facilities
Cryptocurrency exchange Kraken just closed its biggest acquisition to date.
The company is buying Crypto Facilities in a nine-figure deal.
London-based Crypto Facilities offers individuals and institutions transparent, secure, 24/7 trading on a range of cryptocurrency derivatives. A pioneer in the industry, the firm was the first regulated entity to list futures on Bitcoin, Ethereum, Ripple XRP, Litecoin and Bitcoin Cash. The firm is also the leading cryptocurrency index provider, calculating the CME CF Bitcoin Reference Rate that powers the CME Group’s Bitcoin futures. Users value the high integrity, low latency marketplace that Crypto Facilities provides under the regulatory supervision of the UK’s Financial Conduct Authority.
Kraken CEO Jesse Powell told Fortune that the company had already integrated the back-end operations of Crypto Facilities, which means users of both services will immediately be able to trade on a single platform. Futures trading will not, however, be available for its U.S. customers.