Kraken's subsidiary brings regulated Bitcoin futures trading to Europe

A branch of the cryptocurrency exchange has obtained a MTF license in the UK and will now be able to reach new customers in Europe thanks to this official approval.

The first MTF in the UK for a cryptocurrency company

Crypto Facilities, which now presents itself as Kraken Futures after the cryptocurrency exchange acquisition last year, obtained the first Multilateral Trading Facility (MTF) in the UK for a cryptocurrency company.

According to a statement, the license - issued by the United Kingdom's Financial Conduct Authority (FCA) - will allow Kraken Futures to reach customers who are legally required to negotiate on regulated platforms and will facilitate the company in expanding its product offering.

The licensed acquisition makes Kraken Futures the only licensed derivatives market in Europe that can offer leveraged cryptocurrency trading. These futures contracts allow traders to gain significant exposure to the cryptocurrency without actually holding tokens.

New investors will have access to the crypto market

According to the FAQs on the company's website, Kraken Futures currently offers US dollar-listed futures contracts on Bitcoin, Ethereum, Litecoin, Ripple's XRP and Bitcoin Cash. "We underwent these licensing constraints because Kraken aims to make encryption accessible to everyone," said Kraken CEO and co-founder, Jesse Powell, in a statement.

“This particular license means that a sophisticated class of investors, limited by their requirements to interface with a regulated venue such as a multilateral trading facility, will now have access to crypto derivatives in Europe for the first time. More participants means more liquidity and a better experience for everyone ”.

Kraken is Europe's largest cryptocurrency exchange in terms of trading volumes in euros, he says, and offers trading for over 30 digital currencies and seven legal currencies. The exchange has around 4 million global users.

"Building the most liquid futures exchange"

Kraken's CEO, Jesse Powell, explained that the acquisition of Crypto Facilities will greatly accelerate the roadmap of its exchange, simplifying the procedures for obtaining the licenses necessary to offer an increasingly competitive service.

“The deal brings the total number of our developers above 100, and will help Crypto Facilities in allowing us to add more assets. We plan to launch more contracts in the medium term and Kraken plans to launch more assets. Our goal is to build the most liquid futures exchange. "

Powell and Schlaefer underlined what the benefits will be for users after this acquisition, that is, being able to trade futures even at night and on weekends. A June report from Finery Technology found that Kraken offers the best Bitcoin to euro liquidity in Europe, beating competitors such as Binance, Coinbase and Bitstamp.

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