Kraken deploys the trade in regulated cryptographic derivatives in Europe, in accordance with the European Union financial instrument market (MIFID II).
The term contracts on the exchange of exchange and fixed crypto of the exchange crypto will now be available for retail and institutional customers of the European Economic Area (EEE), the firm announced on Tuesday.
The authorization to negotiate cryptographic derivatives came by a Cypriot investment company called Greenfield Wealth, which Kraken acquired earlier this year, obtaining the exchange of a license from Cyprus Securities and Exchange Commission (CYSEC).
The space of crypto derivatives has experienced important movements lately, with large actors such as Coinbase (corner) listed by US acquiring the main derbery of the trading platform. In Europe, exchanges such as Bitstamp and Gemini enter the fold, while the Mifid II license owned by FTX EU has been acquired by backpack.
Kraken also acquired $ 1.5 billion from Ninjatrader to stimulate trade in derivatives in the United States as well as its European license, Kraken acquired Crypto Facilitities, a platform of future cryptocurrency in the United Kingdom in 2019.
According to Shannon Kurtas, head of $ 1 billion and $ 2 billion, according to Shannon Kurtas, head of Kurtas, head of $ 1 billion, European customers will have access to Kraken.
“This does not offer access to a new trading place or new contracts,” Kurtas said in an interview. “These are existing contracts which have exchanges of volumes of materials on them and, with this, it comes from the liquidity established, better execution costs and Fiat rails to obtain guarantees in and outside efficiently and at a lower cost.”
The recent introduction of the Kraken Crypto Embed Connectivity Application means that neobancs and fintechs in Europe can also offer derivatives, as well as spots, to their customers, Kurtas told.
Picking licenses in smaller and undoubtedly more agile jurisdictions like Cyprus and Malta has become a well -contributed path for cryptographic companies with deep pockets.
“More agile is probably a fair characterization,” said Kurtas. “In addition, there has been an established set of companies, in particular in the CFD space, which has traditionally offered detail access to FX derivatives and CFDs, and there is therefore a kind of link of individuals, businesses and know-how, if you want, in the region of these products.”
