|Headquarters||London, United Kingdom|
|Products||Cryptocurrency trading platform, futures trading, and index calculation|
Crypto Facilities, a subsidiary of Kraken, administers and calculates the bitcoin and Ether price indexes for the CME Group. CME Group announced on May 2, 2016, that it would include bitcoin prices from ItBit trading in its daily Bitcoin Reference Rate as well as its Real Time Index. In a notice on its website on July 5, 2019, CME Group said that it was including itBit's Ether prices in the indexes calculated by Crypto Facilities.
Calling it a purchase for "nine figures," Kraken acquired Crypto Facilities. Crypto Facilities offered trading in cryptocurrency pairs as well as leveraged contracts, which it characterized as "futures." . In an indication that the deal had been underway for some time, Powell told Fortune that the companies had already integrated their back-end operations of Crypto Facilities allowing customers of both companies to trade on a single platform. The transaction was approved by the Crypto Facilities' regulator, the U.K. Financial Conduct Authority. Powell also said that the purchase had been funded from Kraken's own resources.
In March 2019, Crypto Facilities told Cointelegraph that its trading volumes increased by 500 percent after being acquired by Kraken.
Following the Crypto Facilities acquisition, Kraken renamed the cryptocurrency trading platform "Kraken Futures." Kraken announced on March 25, 2019 that non-U.S. customers of its platform would be able to engage in both spot and futures trading. It also said Kraken users will be able to trade these contracts leveraged up to 50x, giving them the ability to profit in both bull and bear markets.
- CME Group and Crypto Facilities Announce Launch of Bitcoin Reference Rate and Real-Time Index. CME Group.
- CME CF Ether-Dollar Reference Rate & CME CF Ether-Dollar Real-Time Index. CME Group.
- Kraken Acquires Futures Startup In Deal Worth At Least $100 Million. Coin Desk.
- Crypto Exchange Kraken Raises $100 Million, Acquires London Futures Firm. Fortune.
- Crypto Futures Provider Volumes Increase 500 Percent After Acquisition by Kraken. Cointelegraph.
- Kraken Exchange Announces Launch of Both Spot and Futures Trading. Bitcoin Exchange Guide.
- Kraken Futures is a new way to trade. Kraken Blog.