FCA gives MTF license to derivatives venue Crypto Facilities

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).

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 first authorized derivatives marketplace in Europe offering leveraged trading of cryptocurrencies. Leveraged, cash-settled futures contracts are a tool for traders seeking exposure to bitcoin and other crypto assets without holding or accepting delivery of the product.

Jesse Powell, CEO and cofounder of Kraken, said in a statement: “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 was acquired by Kraken in early 2019 and has since been operating its 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.

Read the full release

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