Kraken Cryptocurrency Exchange announced the purchase of the Crypto Facilities London platform, a service that specializes in cryptocurrency derivatives trading.
On the Crypto Facilities platform, individual investors and funds conduct trading operations around this asset class around the clock. As a pioneer in the industry, the company first organized the circulation of futures on Bitcoin, Ethereum, Ripple (XRP), Litecoin and Bitcoin Cash.
Crypto Facilities has created and calculates the leading bitcoin cost index, which was accepted by the Chicago Stock Exchange as the underlying asset of a bitcoin futures contract launched in December 2017.
The result of the purchase platform
As a result of Kraken’s purchase of the platform, clients of the latter will have access to futures trading in six cryptocurrency pairs, which will enable them to trade in any market environment.
Cost not disclosed
The exact value of the transaction was not disclosed, but according to Kraken, this is a figure with eight zeros.
As a result, all investors sold their shares in the Kraken, including the largest investor in Crypto Facilities – Target Global Venture Fund.
“Crypto Facilities has joined Kraken. We are pleased to provide our customers with access to leading futures and index products. In the coming months, we will continue to improve and expand these offers. Already this year we will offer brokers and institutional clients a lot of interesting things, ”said Kraken President Jesse Powell.
The president and founder of Crypto Facilities, Timo Schleifer, also added:
“Our mission was to build the most advanced, powerful and convenient cryptocurrency trading platform. Combining with Kraken will allow us to release the next generation of innovative products and significantly increase the value of our offer for customers. ”
As a result, the Crypto Facilities team will remain in London.
Note that earlier Kraken has already swallowed the large bitcoin exchanges:
- Cavirtex adn CleverCoin
- Glidera Bitcoin Wallet
- Cryptowatch platform for portfolio investment tools.