Kraken has launched a regulated derivatives trading platform for professional users in the UK, featuring advanced financial products. This is part of a broader expansion strategy that includes regulatory compliance in jurisdictions beyond the UK. The firm has also entered traditional stock trading in the U.S. amidst various developments in the crypto space.
Kraken is stepping up its game in the UK’s crypto landscape with the launch of a regulated derivatives trading platform tailored for professional users. This platform operates via its Multilateral Trading Facility, which has the approval of the Financial Conduct Authority (FCA). The newly available offerings allow advanced financial products, including multi-collateral perpetual contracts. These are particularly attractive to institutions looking for cost-efficient tools within the digital asset markets.
Initially, this platform was rolled out quietly, but now it’s opened up to all eligible clients after completing a necessary onboarding process. Alexia Theodorou, the head of derivatives at Kraken, mentioned that they’re focusing on this area due to the increasing global demand for crypto derivatives, which currently represent the bulk of trading activities in this sector.
Beyond the UK, Kraken is also making inroads into other markets. The firm has recently established regulated entities in regions like Cyprus under the MiFID II framework and has partnered with U.S.-based broker NinjaTrader. This international strategy reflects Kraken’s long-term vision of scaling operations globally, while also addressing the complex regulatory landscapes that often hinder access in significant markets such as the U.S. and parts of Asia.
In addition to its derivatives expansion, Kraken is diversifying into traditional finance, having just launched stock trading services in the U.S. Users can now trade over 11,000 equities and exchange-traded funds (ETFs) commission-free. Having reported a whopping $1.5 billion in revenue last year, there are whispers that the company might be gearing up for a public listing, especially after settling a recent legal issue with the SEC.
Meanwhile, navigating the crypto space can be challenging, especially when dealing with multiple blockchain networks and the confusion about which address belongs to which. In a related development, Galaxy Digital is planning to enter the U.S. public markets, aiming to debut on Nasdaq under the ticker “GLXY” as soon as May 16.
In a strange twist that mixes tech with crypto, Sam Altman’s Worldcoin project is set to roll out its iris-scanning technology in the U.S. on an extensive scale. Meanwhile, Metaplanet, a firm based in Tokyo that’s been making waves with its ambitious Bitcoin strategies, is also looking to solidify its presence in America with the launch of a new subsidiary based in Florida.
