Crypto Facilities, a subsidiary of Kraken and European cryptocurrency exchange, announced on Monday it has obtained a Multilateral Trading Facility (MTF) license from the UK’s Financial Conduct Authority (FCA).
Crypto Facilities reported with this new license, it will be able to expand its product range and better serve institutional clients who are mandated to trade on licensed platforms. The exchange further revealed it will be the only authorized derivatives marketplace in Europe offering leveraged trading of cryptocurrencies.
“Leveraged, cash-settled futures contracts offer a valuable tool for traders seeking exposure to bitcoin and other crypto-assets without holding or accepting delivery of the product.”
Speaking about the license, Jesse Powell, CEO and Co-Founder of Kraken, stated:
“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, went on to add:
“Crypto Facilities has pioneered cryptocurrency derivatives since 2015. We are proud to now become the first licensed cryptocurrency derivatives exchange outside of the U.S.”
Crypto Facilities Ltd was acquired by Kraken in early 2019 and has since been operating its platform under the trading name Kraken Futures.