Kraken Acquires Crypto Facilities in Nine-Figure Deal

Kraken, one of the world’s longest-operating cryptocurrency exchanges, today finalized its acquisition of yet another company in the blockchain industry, this time taking over UK registered startup Crypto Facilities.

Crypto Facilities is a London-based financial services firm that provides FCA-regulated risk management and trading solutions for digital assets. The deal values the company in the nine figure range, according to the official statement.

Crypto Facilities is currently focused on providing its services in Europe, Latin America and Asia with U.S. availability on the roadmap after its buyout. Kraken said the deal enables its eligible clients to gain access to futures on six cryptocurrency pairs, providing a unique instrument to trade and hedge cryptocurrencies.

This new offering will adhere to Crypto Facilities’ professional standards in terms of regulatory compliance, secure asset custody and counterparty credit risk management.

Over the past two years, Kraken has transformed itself into a global crypto powerhouse, establishing its strong presence in both the US and European Bitcoin markets. Once the largest Bitcoin exchange in the Europe, Kraken has been also a strong contender in the US market, with around three percent market share.

(Photo: Kraken)

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