Kraken Buys UK Exchange Crypto Facilities for at Least $100 Million

Crypto Facilities will continue operating from London under its new owner, Kraken, following a “nine-figure deal.”

United States cryptocurrency exchange Kraken has acquired United Kingdom-based cryptocurrency exchange and futures provider Crypto Facilities, the company confirmed in a press release Feb. 4.

Crypto Facilities, which began operating in 2015, is fully regulated by the U.K.’s Financial Conduct Authority, giving Kraken a major foothold in the European market.

The parties declined to reveal the exact figure involved in the deal, saying only that it was a “nine-figure deal.”

“We are excited to introduce eligible clients to these industry leading futures and index products,” Kraken CEO Jesse Powell commented in the press release, adding:

“Over the coming months, our teams will continue to enhance and expand these offerings.”

The takeover comes as more exchanges look abroad to increase their…

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2019-02-04 15:24:00

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Written by Cointelegraph

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