The U.S.-based crypto exchange Kraken announced on May 20 that it has launched regulated crypto derivatives in Europe.
Kraken's retail and institutional clients in the European Economic Area (EEA) can trade crypto derivatives, including perpetual and fixed maturity contracts.
The exchange is offering the latest derivative products through Greenfield Wealth, a Cyprus-based investment firm that Kraken acquired on Feb. 3 to secure the Markets in Financial Instruments Directive (MiFID II) license in the European Union.
Kraken underlined the launch of MiFID-regulated futures within a recognized regulatory framework that will further strengthen the firm's position.
“Europe is one of the fastest-growing regions for digital asset trading and investment, with some of the most sophisticated and demanding clients and institutions,” Kraken's head of exchange, Shannon Kurtas, said.
“The launch of Kraken’s regulated derivatives in Europe, the largest offering of its kind, is well-timed to meet this growing demand and underscores our commitment to providing trusted, compliant access to the best markets and trading opportunities,” Kurtas added.
The crypto exchange has been expanding its global presence for a long time now.
On March 20, Kraken entered into a $1.5 billion deal to acquire the U.S.-based futures trading exchange NinjaTrader.
The exchange had also been competing with Coinbase (Nasdaq: COIN), the largest crypto exchange in the U.S., to acquire Deribit, a Dubai-based crypto derivatives exchange. However, Coinbase won the deal.
Founded in 2011, Kraken is a U.S.-based crypto exchange that claims to offer its services to 15 million users globally.