Kraken Acquires Crypto Facilities in Nine Figure Deal, Futures Trading 'Soon'

Colin Muller
  • Kraken have acquired Crypto Facilities Ltd and have raised $100 million in new funding
  • 'Soon' to integrate six futures trading pairs

The US-based cryptoasset exchange Kraken has acquired UK-based Crypto Facilities Ltd., a bitcoin and altcoin derivative (futures) trading platform, it announced today in a press release. Kraken paid “nine figures” for the acquisition although the exact sum has not been publicized.

This will make Kraken the first US cryptoasset exchange to offer both spot and futures trading within the same platform. Eligible Kraken users will have access to six futures trading pairs, the release said.

Kraken have also disclosed to Fortune Magazine that they have secured $100 million in new funding from (mostly non-US) accredited investors. Notably, the money was not raised from venture capital.

Kraken CEO Jesse Powell also told Fortune that they have already integrated Crypto Facilities’ trading software into the exchange, and that futures trading for US users should go live “soon.”

Crypto Facilities is already integrated into US cryptoasset trading, providing the index pricing for the Chicago Mercantile Exchange’s crypto future products. The exchange currently offers trading in bitcoin, Litecoin, XRP, Bitcoin Cash, and Ether.

Screenshot from 2019-02-04 15-45-29.png(source: Screenshot of Crypto Facilities trading interface)

Kraken was recently rated as the most secure cryptoasset exchange out of 135 top exchanges, according to a recent report from ICORating.com.