The Crypto Facilities acquisition means Kraken is the first crypto exchange to offer both spot and futures trading in currencies like Bitcoin, Ethereum, and XRP.
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Crypto Exchange Kraken Raises $100 Million, Acquires London Futures Firm
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The deal will increase revenues and help attract institutional clients, Powell said, adding that Kraken’s strong balance sheet allowed it to acquire the London company outright. The deal had been in the works for 10 months, he said, but Kraken had been waiting for approval, since granted, from the U.K. regulator Financial Conduct Authority. From a strategic point of view, the acquisition helps Kraken become a one-stop shop for trading. Crypto Facilities CEO and founder Timo Schlaefer, a former Goldman Sachs executive, will stay on in his current role.
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