A leading cryptocurrency exchange called Kraken is looking to purchase well known futures trading platform NinjaTrader for 1.5 billion. The development of this deal will help expand Kraken’s services, especially with regard to its U.S. crypto futures market.
NinjaTrader started trading in 2003 and has an estimated number of 1.8 million retail customers trading on futures. The purchase will allow Kraken to move beyond trading of just cryptocurrencies, according to this. NinjaTrader will also be able to expand to the UK, Europe, and Australia with the help of Kraken’s existing licenses.
The move by Kraken follows some large regulatory battles that the company won. Recently, the U.S. Securities and Exchange Commission (SEC) has dropped a lawsuit against Kraken for improperly dealing with customer funds. The acquisition of NinjaTrader will now allow Kraken to obtain a Futures Commission Merchant (FCM) license that would allow selling derivatives legally in the US.
Kraken is looking to expand in crypto derivatives where other big competitors such as Binance and OKX are larger. Instead, the company aims to build an asset trading platform where people can exchange any asset at any time.
The deal has not been finalized but sources say Kraken may make such an announcement soon. And the transaction is expected to be complete mid 2025. This is a huge step for Kraken as the acquisition reinforces the company’s dominance in the futures trading arena and growing services globally.
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