Kraken acquires London based Crypto Facilities

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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

Crypto Facilities

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.

Kraken

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.


Additionaly, the acquisition of Crypto Facilities reinforces Kraken’s commitment to meeting client demand for innovative products and services. Eligible Kraken clients will gain access to futures on six cryptocurrency pairs, providing a highly efficient way to trade and hedge cryptocurrency in any market environment.

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. 

Source:

https://www.coingecko.com/en/exchanges/kraken
https://www.coindesk.com/crypto-kraken-acquires-crypto-facilities
https://blog.kraken.com/post/2089/kraken-acquires-crypto-derivatives-trading-platform-and-index-provider-crypto-facilities-in-nine-figure-deal-official-press-release/

NASDAQ will launch Bitcoin futures in 2019

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By recent reports, NASDAQ, in partnership with an investment firm VanEck, is about to launch their first Bitcoin futures contracts. An exact date hasn’t yet been set, but NASDAQ has announced that it’s going to be the first quarter of 2019. 

These are not the first active Bitcoin futures. The CFTC (Commodity Futures Trading Commision) which regulates Bitcoin as a commodity, has already approved two crypto futures products before: one is CBOE (Chicago Board Options Exchange) bitcoin futures and the second is CME (Chicago Mercantile Exchange) bitcoin futures. Interestingly enough, both are from Chicago. CBOE bitcoin futures launched exactly one year ago. So it is safe to say that New York will be the second Bitcoin futures city.

The quarter of Bitcoin Futures

2019 Q1 is going to be filled with new Bitcoin derivatives as NASDAQ is not the only exchange which plans to launch a bitcoin futures contract. The ICE (Intercontinental Exchange) is planning to launch a bitcoin futures contract as well during Q1 2019. Besides, Bakkt which is a cryptocurrency exchange built by ICE also plans to start their Bitcoin Futures market on January 24. Originally it was scheduled on December 12, but got delayed.

It looks like the first quarter will bring much good news to institutional investors.

VanEck takes charge

VanEck is planning to launch multiple bitcoin derivatives including the already mentioned “bitcoin futures 2.0”. These products are going to be “transparent, regulated and surveilled digital” assets according to Gabor Gubracs, the director of digital asset strategy of VanEck. The company also has applied to the SEC (Securities and Exchange Commission) for approval for a Bitcoin ETF. The SEC has already turned down multiple applications because the application didn’t adequately demonstrate how they are going to fight fraud and manipulation.

“We are the closest that we can be. It is very clear to me that America wants a bitcoin ETF and we are here to build it.” Gabor Gurbacs optimistically told Fox Business.

Market insight

Could these be the news the cryptocurrency cult is waiting for? Could we see a bullish Bitcoin at the end of January 2019? Those are just speculative questions, as the real outcome, we’ll see only when it happens. Today Bitcoin continues to drop another -4% along with other altcoins. Very few coins in the top 100 are performing green. Binance coin performed well today as of new DEX UX announcements but now has leveled out. During the first half of the day it quickly jumped +10% to $6,48, but now has leveled out to $6,02. Bitcoin Cash is probably the worst performer in the past days as it has lost more than -25%. 

Source:

https://goo.gl/wQc2Sv
https://goo.gl/L6pnnY

Photo by David McBee from Pexels