Cryptocurrency exchange Kraken has created a buzz in the blockchain ecosystem by acquiring the London-based trading startup Crypto Facilities in a deal almost worth $100M.
Crypto Facilities is a leading regulated digital asset trading platform and index provider. Now the terrific combination is set to rule the cryptocurrency and futures trading space.
Crypto Facilities – a 24×7 cryptocurrency trading solution
Started in 2015, Crypto Facilities is authorised and regulated by the UK’s Financial Conduct Authority. By means of advanced API, the platform facilitates users with secure algorithmic trading. Besides trading, Crypto Facilities offers reliable and transparent cryptocurrency index to financial institutions, trading firms and data vendors worldwide by partnering with CME Group.
Crypto Facilities supports futures trading in multiple currencies including Bitcoin, Ripple, Ether, Litecoin and Bitcoin Cash. Crypto Facilities founder and CEO Timo Schlaefer expressed, “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.”
Kraken – the pioneer in cryptocurrency exchange with 4 million+ clients
Founded by Jesse Powell in 2011, Kraken remains to the global leader in bitcoin exchange in euro volume and liquidity. Headquartered in San Francisco, the firm caters more than 4 million clients in over 190 countries.
Kraken offers a flexible volume-based investor-friendly fee structure for long as well as short term investments. The sleek user interface enables trading in 20 digital assets and 70+ currency pairs with advanced charting, trading and portfolio tracking tools through Cryptowatch.
Kraken is supported by investors including Hummingbird Ventures, Blockchain Capital and Digital Currency Group.
One of the largest deals in the blockchain arena
The nine-digit deal is Kraken’s largest acquisition and one of the biggest in the industry. Now with Crypto Facilities, Kraken will be able to offer 360-degree digital currency trading solutions to its clients.
Prior to this deal, Kraken had acquired Coinsetter, Cavirtex, CleverCoin, Glidera and Cryptowatch.
Kraken CEO Jesse Powell articulated, “I’m thrilled to welcome the Crypto Facilities team into the Kraken family. 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.”
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