Kraken to Acquire NinjaTrader in a $1.5B Deal: Report | Crypto Work Pro
Kraken is set to purchase the US-based retail futures trading platform NinjaTrader in a $1.5 billion deal, The Wall Street Journal reported, citing “people familiar with the matter.” The crypto exchange giant is anticipated to formally announce the deal as early as in the present day (Thursday).
Tapping into Markets Beyond Crypto
Founded in 2003, NinjaTrader operates as a Futures Commission Merchant and affords futures trading instruments to merchants. According to its web site, the platform has over 1.8 million clients. The acquisition would permit Kraken to increase its person base and enter asset lessons past cryptocurrencies.
The report additional outlined Kraken’s plans to increase NinjaTrader’s attain to the United Kingdom, Europe, and Australia. However, NinjaTrader is anticipated to proceed working as an impartial model fairly than below the Kraken umbrella.
Kraken, based in 2011, is one of the oldest and largest cryptocurrency exchanges based mostly in the US. Interestingly, there have been stories of Kraken’s plans to offer US-listed shares and exchange-traded funds (ETFs) below its new division, Kraken Securities, initially in two international locations: the US and the UK.
Kraken’s Expansion Push
The San Francisco-headquartered exchange additionally acquired a company in Cyprus earlier this 12 months to acquire a Markets in Financial Instruments Directive (MiFID) licence, permitting it to offer derivatives throughout the European Economic Area. Finance Magnates lately revealed that it acquired a Cypriot firm is linked to contracts for variations (CFDs) broker model PU Prime.
Meanwhile, the Securities and Exchange Commission (SEC) in the US dropped its lawsuit towards Kraken. The case was introduced below the earlier Chairmanship of Gary Gensler, who stepped down when President Donald Trump took workplace. The Acting SEC Chair, Mark Uyeda, can also be shaping the company to be more lenient in direction of crypto and is reportedly scaling down its crypto enforcement group.
Kraken additionally lately obtained an Electronic Money Institution (EMI) licence from the UK’s Financial Conduct Authority (FCA) as half of the company’s growth strategy in the nation.
This article was written by Arnab Shome at www.financemagnates.com.
Stay up to date with the newest developments in Crypto! Our web site is your go-to source for cutting-edge crypto information,
