Kraken Buys UK Crypto Exchange and Futures Provider For At Least $100 Million

Kraken, one of the largest US-based cryptocurrency exchanges, has acquired United Kingdom-based cryptocurrency exchange and futures provider Crypto Facilities. According to the company’s February 4 press release, London-based Crypto Facilities offers individuals and institutions transparent and secure trading on a range of cryptocurrency derivatives.

It is still unknown how much Kraken paid to acquire Crypto Facilities, as the company only said that it was a “nine-figure deal.” The acquisition will make Kraken the first cryptocurrency exchange to offer both spot and futures trading in Bitcoin, Ethereum, and XRP.

The CEO of the exchange, Jesse Powell, told Fortune that users of both services will immediately be able to trade on a single platform, as the company has already integrated the back-end operations of Crypto Facilities.

Powell also disclosed that the company is on the cusp of completing a $100 million funding round financed by its larger customers.

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