Kraken doubles down on US futures with $100M ‘Small’ acquisition
After acquiring NinjaTrader for $1.5 billion, Kraken expands its derivatives offerings in the US with a $100 million acquisition of Small Exchange.
Cryptocurrency exchange Kraken has expanded its derivatives trading offering in its home jurisdiction through a new acquisition.
Kraken acquired Small Exchange, a designated contract market maker (DCM), from the trading company IG Group for $100 million, the company announced on Thursday.
With the DCM licensed by the US Commodity Futures Trading Commission (CFTC), the Small Exchange acquisition authorizes Kraken to build markets for exchange-listed derivatives in the US.