Kraken Buys UK Exchange Crypto Facilities For At Least $100 Million
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.
As Cointelegraph reported, crypto exchange Bittrex recently opted to launch an international counterpart to its trading platform, segregating its U.S. users in order to offer more tokens to non-U.S. markets.
Both Kraken and Crypto Facilities appeared to embrace a London-focused basis going forward.
“Crypto Facilities will remain London-based, benefiting from the regulatory oversight of the Financial Conduct Authority, one of the world’s most forward looking and innovation-focused regulators, and reflecting Kraken’s commitment to the UK as the leading financial and cryptocurrency hub in Europe,” the press release added.
Cointelegraph article by William Suburg reduced by: 44%
Related story: Coinlab’s Mt.Gox Claim Jumps From $75m To $16 Billion, Freezing Restitution (cryptoglobe.com)
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