Kraken Expands US Derivatives Business
Kraken has acquired IG Group's Small Exchange for $100 million to offer CFTC-regulated crypto futures trading in the US.
The acquisition includes $32.5 million in cash and $67.5 million in Payward stock, Kraken's parent company, allowing the exchange to offer perpetual futures and round-the-clock trading directly to US customers under regulatory oversight.
The Small Exchange is registered with the Commodity Futures Trading Commission (CFTC) as a Designated Contract Market (DCM), enabling Kraken to operate within the US regulatory framework and offer futures trading without routing activity through third-party venues.
Kraken strengthens its push into regulated derivatives trading.
Author's summary: Kraken acquires Small Exchange for $100M.
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