Digital exchange group Kraken has announced the acquisition of Crypto Facilities, a regulated cryptocurrency trading platform and index provider.

London-based Crypto Facilities offers individuals and institutions trading on a range of cryptocurrency derivatives and was the first regulated entity to list futures on bitcoin, ethereum, ripple XRP, litecoin and bitcoin cash. The firm also provides a cryptocurrency index, calculating the CME CF Bitcoin Reference Rate that powers the CME Group’s Bitcoin futures.

Kraken says the acquisition reinforces its commitment to meeting client demand for innovative products and services that complement its core spot exchange and white-glove OTC service. Eligible Kraken clients will gain access to futures on six cryptocurrency pairs.

“I’m thrilled to welcome the Crypto Facilities team into the Kraken family,” says Kraken CEO Jesse Powell. “We are excited to introduce eligible clients to these industry leading futures and index products. Over the coming months, our teams will continue to enhance and expand these offerings. We’ve got great stuff in store for traders and institutional clients in 2019.”

Timo Schlaefer, Crypto Facilities CEO and founder, adds, “It has been our mission to build the most sophisticated, powerful and user friendly cryptocurrency trading platform. Teaming up with Kraken allows us to innovate the next generation of products and tremendously boosts the value we are able to provide to our clients.”

Crypto Facilities will remain London-based under the regulatory oversight of the Financial Conduct Authority.

What the firm calls a “nine-figure deal” is Kraken’s largest acquisition to date following the deals for bitcoin exchanges Coinsetter, Cavirtex and CleverCoin; the wallet funding service Glidera; and the multi-exchange charting, trading and portfolio tracking platform Cryptowatch.

Colin Lambert

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