First licensed cryptocurrency futures venue in Europe
Crypto Facilities, a subsidiary of Kraken, the largest cryptocurrency exchange in Europe by euro trading volumes, has become the first cryptocurrency company to obtain a Multilateral Trading Facility (MTF) license from the UK’s Financial Conduct Authority (FCA).
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Crypto Facilities, which operates as Kraken Futures, will be able to expand its product range and better serve institutional clients who are mandated to trade on licensed platforms (Graphic: Business Wire)
With this new license, Crypto Facilities will be able to expand its product range and better serve institutional clients who are mandated to trade on licensed platforms.
Additionally, it will be the only authorized derivatives marketplace in Europe offering leveraged trading of cryptocurrencies. Leveraged, cash-settled futures contracts offer a valuable tool for traders seeking exposure to bitcoin and other crypto assets without holding or accepting delivery of the product.
"We undergo these licensing efforts because Kraken is about making crypto accessible for everyone," said Jesse Powell, CEO and Cofounder of Kraken. "This particular license means that a sophisticated class of investors, limited by their own requirements to interface with a regulated venue such as an MTF, will now have access to crypto derivatives in Europe for the first time. More participants means more liquidity and a better experience for everyone."
"Crypto Facilities has pioneered cryptocurrency derivatives since 2015. We are proud to now become the first licensed cryptocurrency derivatives exchange outside of the US." said Timo Schlaefer, CEO of Crypto Facilities.
To find out more, please visit www.cryptofacilities.com.
About Crypto Facilities
Crypto Facilities Ltd was acquired by Kraken in early 2019 and has since been operating it’s platform under the trading name Kraken Futures. Crypto Facilities is a leading provider of futures contracts in BTC, ETH, XRP, BCH and LTC with up to 50x leverage.
Based in San Francisco, Kraken is the world’s largest global digital asset exchange based on euro volume and liquidity. Kraken’s clients trade more than 30 digital assets and 7 different fiat currencies, including EUR, USD, CAD, GBP, JPY, CHF and AUD. Kraken was founded in 2011 and is the first digital asset exchange to have its market data displayed on the Bloomberg Terminal, the first to pass a cryptographically verifiable proof-of-reserves audit and one of the first exchanges to offer leveraged bitcoin margin trading. Kraken is trusted by more than 4 million traders, institutions and authorities around the world.
Kraken is backed by investors including Hummingbird Ventures, Blockchain Capital and Digital Currency Group, among others. For more information about Kraken, please visit www.kraken.com.
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