San Francisco-based digital asset exchange Kraken announced the acquisition of Crypto Facilities, a regulated cryptocurrency trading platform and index provider for at least $100 million, without giving more specific details other than “nine-figure deal”.
This is Kraken’s largest acquisition to date and one of the largest the industry has seen. Kraken’s previous acquisitions include Bitcoin exchanges Coinsetter, Cavirtex and CleverCoin; wallet funding service Glidera; and multi-exchange charting, trading and portfolio tracking platform Cryptowatch.
Crypto Facilities offers individuals and institutions transparent, secure, 24/7 trading on a range of cryptocurrency derivatives. It was the first firm to become a regulated entity for listing futures on Bitcoin, Ethereum, Ripple XRP, Litecoin and Bitcoin Cash. The firm is also the leading cryptocurrency index provider, calculating the CME CF Bitcoin Reference Rate that powers the CME Group’s Bitcoin futures. It is under the regulatory supervision of the UK’s Financial Conduct Authority.
Crypto Facilities will remain London-based, benefiting from the regulatory oversight of the Financial Conduct Authority, one of the world’s most forward looking and innovation-focused regulators, and reflecting Kraken’s commitment to the UK as the leading financial and cryptocurrency hub in Europe.