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San Francisco based cryptocurrency exchange services provider, Kraken, has acquired FCA regulated crypto futures provider, Crypto Facilities, as it looks to expand its firepower in Europe, plus allow its customers to trade spot and 24-hour regulated cash settled futures all in one-unified interface. All 25 Crypto Facilities employees will continue with the company.
In addition to exchanges like Kraken, in which users can buy and sell such assets for fiat currencies, Powell noted the development of platforms like Binance that have grown more quickly by sidestepping interactions with regulators. “They’re not in the U.S., they’re not dealing with regulation, they’re not hooked up with banks,” Powell said of the difference between the firms. More appropriate competitors, Powell suggested would be Luxembourg-based Bitstamp and Coinbase, the latter of which, while based in the U.S. has expanded services in Europe. (Kraken will not allow U.S. exchange users to engage in futures trading.) Still, Powell expects the product, the only available futures offering for cryptocurrencies currently in Europe, to help Kraken continue to differentiate from the pack. Powell concluded:
https://www.coindesk.com/crypto-kraken-acquires-crypto-facilities
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