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Kraken, a San Francisco-based digital encryption center, has just purchased Crypto Facilities, a crypto futures company, for at least $ 100 million.
Crypto Facilities is a partner of Ripple and offers UK traders a fully regulated way to purchase crypto futures, including Bitcoin, XRP, Ethereum and Litecoin. Kraken says he acquired Crypto Facilities for at least $ 100 million, but declined to publish an exact number.
Jesse Powell, CEO of Kraken, said the company planned to expand the platform in 2019.
"We are pleased to present our eligible clients with these leading futures and index products. Over the next few months, our teams will continue to improve and expand these offerings. In 2019, traders and institutional clients will have excellent products. "
Kraken says this acquisition is the most important in the company's history.
"The nine-digit deal is Kraken's largest acquisition to date and one of the largest in the industry. Previous acquisitions of Kraken include significant exchanges in bitcoins, Coinsetter, Cavirtex and CleverCoin; the award-winning Glidera Portfolio Finance Service; and the popular Cryptowatch multi-purse portfolio tracing, trading and tracking platform. "
Crypto Facilities will remain in London, where it is fully compliant with the Financial Conduct Authority of the United Kingdom. The agreement will allow UK Kraken customers access to cryptographic futures contracts.
"The acquisition of Crypto Facilities reinforces Kraken's commitment to meet customer demand for innovative products and services that complement its central spot and over-the-counter service. Eligible Kraken customers will have access to six cryptocurrency futures, providing an extremely efficient way to trade and protect cryptocurrency in any market environment. "
Ripple has partnered with Crypto Facilities in 2016, making it the first derivatives market to list XRP futures.
In connection with an equally important acquisition in the cryptography industry, Tron has purchased BitTorrent 's peer – to – peer file sharing platform for an estimated $ 100 million worth. last year.
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