Kraken subsidiary Crypto Facilities announced obtaining Multilateral Trading Facility (MTF) license from the UK’s Financial Conduct Authority (FCA).
The new license will allow Crypto Facilities to expand its product range and better serve institutional clients who are required to trade on licensed platforms.
Crypto Facilities, also known as Kraken Futures, offers futures contracts in BTC, ETH, XRP, BCH and LTC with up to 50x leverage. Leveraged, cash-settled futures contracts can be a useful tool for traders looking for crypto assets exposure without holding or accepting delivery of the product.
We undergo these licensing efforts because Kraken is about making crypto accessible for everyone. This particular license means that a sophisticated class of investors, limited by their own requirements to interface with a regulated venue such as an MTF, will now have access to crypto derivatives in Europe for the first time. More participants means more liquidity and a better experience for everyone.
Timo Schlaefer, CEO of Crypto Facilities commented:
Crypto Facilities has pioneered cryptocurrency derivatives since 2015. We are proud to now become the first licensed cryptocurrency derivatives exchange outside of the US.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.