Tuesday, March 31, 2020

Kraken Acquires Crypto Derivatives Trading Platform and Index Provider, Crypto Facilities, in Nine-figure Deal

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SAN FRANCISCO–(BUSINESS WIRE)–Kraken, consistently rated the most secure digital asset exchange1
and leader in euro volume since 2013, today announced the acquisition of
Crypto Facilities, a world-leading, regulated cryptocurrency trading
platform and index provider. The combination creates a global leader in
cryptocurrency spot and futures trading.

London-based Crypto Facilities offers individuals and institutions
transparent, secure, 24/7 trading on a range of cryptocurrency
derivatives. A pioneer in the industry, the firm was the first regulated
entity to list futures on Bitcoin, Ethereum, Ripple XRP, Litecoin and
Bitcoin Cash. The firm is also the leading cryptocurrency index
provider, calculating the CME CF Bitcoin Reference Rate that powers the
CME Group’s Bitcoin futures. Users value the high integrity, low latency
marketplace that Crypto Facilities provides under the regulatory
supervision of the UK’s Financial Conduct Authority.

The acquisition of Crypto Facilities reinforces Kraken’s commitment to
meeting client demand for innovative products and services that
complement its core spot exchange and white-glove OTC service. Eligible
Kraken clients will gain access to futures on six cryptocurrency pairs2,
providing a highly efficient way to trade and hedge cryptocurrency in
any market environment.

Trusted by more than 4 million clients in over 190 countries, including
professionals, institutions and authorities, Kraken delivers seamless
trading in 20 digital assets and 70+ currency pairs, and offers the
industry’s most popular advanced charting, trading and portfolio
tracking tools through Cryptowatch.

I’m thrilled to welcome the Crypto Facilities team into the Kraken
family,” said Kraken CEO Jesse Powell. “We are excited to
introduce eligible clients to these industry leading futures and index
products. Over the coming months, our teams will continue to enhance and
expand these offerings. We’ve got great stuff in store for traders and
institutional clients in 2019.”

Timo Schlaefer, Crypto Facilities CEO and Founder, said: “It has
been our mission to build the most sophisticated, powerful and user
friendly cryptocurrency trading platform. Teaming up with Kraken allows
us to innovate the next generation of products and tremendously boosts
the value we are able to provide to our clients.”

Crypto Facilities will remain London-based, benefiting from the
regulatory oversight of the Financial Conduct Authority, one of the
world’s most forward looking and innovation-focused regulators, and
reflecting Kraken’s commitment to the UK as the leading financial and
cryptocurrency hub in Europe.

The nine-figure deal is Kraken’s largest acquisition to date and one of
the largest the industry has seen. Kraken’s previous acquisitions
include major Bitcoin exchanges Coinsetter, Cavirtex and CleverCoin; the
award-winning wallet funding service Glidera; and the popular
multi-exchange charting, trading and portfolio tracking platform
Cryptowatch.

-Ends-

About Kraken

Based in San Francisco, Kraken is the world’s largest global bitcoin
exchange in euro volume and liquidity. Kraken’s clients also trade US
dollars, Canadian dollars, British pounds, Japanese yen and other
digital currencies on a platform consistently rated the best and most
secure bitcoin exchange by independent news media.

Founded in 2011, Kraken was the first bitcoin exchange to have its
market data displayed on the Bloomberg Terminal, the first to pass a
cryptographically verifiable proof-of-reserves audit and one of the
first exchanges to offer leveraged bitcoin margin trading.

Kraken is trusted by over 4 million traders, institutions and
authorities across the world. In 2018 the exchange processed nearly $90
billion in volume while its white-glove OTC desk handled over $2 billion
in trades. Since 2016, Kraken has acquired major bitcoin exchanges
Coinsetter, Cavirtex and CleverCoin; the award-winning wallet-funding
service Glidera; and the popular multi-exchange charting, trading and
portfolio tracking platform Cryptowatch, expanding its global reach.

Kraken is backed by investors including Hummingbird Ventures, Blockchain
Capital and Digital Currency Group, among others. For more information
about Kraken, please visit https://www.kraken.com.

About Crypto Facilities

Crypto Facilities is a world-leading cryptocurrency trading platform,
offering individuals and institutions regulated, transparent and secure
derivatives trading 24/7/365. The firm was the first regulated entity to
offer futures on Bitcoin, Ethereum, Ripple XRP, Litecoin and Bitcoin
Cash. The firm is also the leading cryptocurrency index provider,
calculating and administering the CME CF Bitcoin Reference Rate powering
the CME Group’s Bitcoin futures. Founded in 2015 and headquartered in
London, Crypto Facilities Ltd is authorised and regulated by the UK’s
Financial Conduct Authority (FRN: 757895). For more information on
Crypto Facilities, please visit https://www.cryptofacilities.com.

1 https://icorating.com/report/exchange-security-report-v-20-update
https://www.group-ib.com/resources/threat-research/cryptocurrency-exchanges.html
https://blog.cer.live/analytical-assessments/top-100-exchanges

2 XBT:USD, ETH:USD, LTC:USD, BCH:USD, XRP:USD and XRP:XBT

Contacts

Christina Yee,
christina@kraken.com

(c)2018 Business Wire Inc., All rights reserved.
Original Release: Business Wire

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