On February 4th, Kraken, one of the most popular and secure exchanges in the crypto market, announced that they acquired Crypto Facilities. In a deal worth about nine-figures, Crypto Facilities is a London based regulated crypto trading platform which provides spot and futures trading.
A pioneer in the industry meets a professional team
Founded in 2014, Crypto Facilities is registered with the U.K. Financial Conduct Authority (FCA), and the deal was approved by the regulator. Crypto Facilities offer individuals and institutions transparent and secure 24/7 trading on a range of crypto derivatives. The service allows to operate with Bitcoin, Bitcoin Cash, Ethereum, Ripple and Litecoin. Crypto Facilities also is the number one cryptocurrency index provider. It calculates the CME CF Bitcoin reference Rate for CME Group’s Bitcoin futures.
Founded in 2011, it is a European based exchange, with headquarters in San Francisco, that offers multiple fiat-to-crypto pairs. It is the largest Bitcoin in euro volume and liquidity. Margin trading is also available for specific trading pairs Kraken also requires users to create two factor authentication and PGP/GPG signing encryption for advanced security. Trusted by more than 4 million clients in over 190 countries, including professionals, institutions and authorities, Kraken delivers seamless trading in 20 digital assets and 70+ currency pairs, and offers the industry’s most popular advanced charting, trading and portfolio tracking tools through Cryptowatch.
The deal allows Kraken to offer Futures market within Europe.
“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,”says Kraken CEO Jesse Powell.
This huge deal has been the largest deal Kraken has had, not to mention the cryptocurrency space as a whole. This could be the largest deal ever made. Also, their developer count increased massively, says Jesse Powel: “The deal brings our total developer team to over 100, and will accelerate Crypto Facilities by enabling us to add more assets. We plan to launch more contracts in the medium-term and Kraken also has plans to launch more assets.”
Also, since February 4th, Kraken daily volume has increased by approximately $11 million, going from $32 million to $43 million.