In what is a monumental move for the digital asset sector, Kraken has made the single largest-ever crypto and TradeFi deal with a new $1.5 billion acquisition. Specifically, the cryptocurrency exchange entered into an agreement to purchase the US future trading platform NinjaTrader, according to a recent announcement.
The move is massive for a number of reasons, including what this means for Kraken’s entry into the crypto futures market. Indeed, through the new deal, the exchange has the legal ability to operate in that sector under the current regulatory standards. After the deal, Kraken reaffirmed its ambitions beyond a single asset class.
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Kraken Announces $1.5 Billion NinjaTrader Deal in Major Acquisition
Earlier this year, the US Securities and Exchange Commission (SEC) announced it was dropping its lawsuit against the Krakent cryptocurrency exchange. The move was massive for the industry and for the exchange. Moreover, it opened the door for the platform to continue growing alongside the surging asset class.
That pursuit continued in a big way Thursday. Indeed, Kraken announced the largest-ever crypto and TradeFi deal with a new $1.5 billion acquisition of NinjaTrader. The exchange noted that the move will also “accelerate Kraken’s multi-asset-class ambitions. This includes plans to implement equities trading and payments.
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“Traditional markets run on post-WWII 1950s banking systems, exchanges that close at 4 p.m. ET, and settlement delays that take days to resolve,” Kraken CEO Arjun Sethi said. “crypto rails fixed these issues, operating with efficient and real-time infrastructure. but legacy finance and crypto have remained separate ecosystems, until today.”
NinjaTrader was founded in 2003 and provides future trading services to users. The firm is CFTC registered, with an FCM license allowing Kraken to know crypto futures and derivatives in the country. Moreover, it provides key access to global regulatory licensing and growth.
