The second-largest US-based crypto exchange by trading volume is expanding its repertoire as it prepares to go public.
Earlier this month, Kraken announced plans to offer an Initial Public Offering (IPO) early next year.
On the heels of the announcement, Kraken now says it has acquired the leading US retail futures trading platform NinjaTrader.
NinjaTrader was founded in 2003, provides services for nearly two million traders, and is a Commodity Futures Trading Commission (CFTC)-registered Futures Commission Merchant (FCM).
According to Kraken, the deal represents the largest ever between traditional finance and crypto.
Says Kraken co-CEO Arjun Sethi of the acquisition,
“Traditional markets run on post-WWII, 1950s banking systems, exchanges that close at 4 p.m. ET and settlement delays that take days to resolve. Crypto rails fixed these issues, operating with efficient and real-time infrastructure.
But legacy finance and crypto have remained separate ecosystems, until today. This transaction is the first step in our vision of an institutional-grade trading platform where any asset can be traded, anytime.”
Says Marty Franchi, CEO of NinjaTrader, in a separate statement,
“NinjaTrader’s mission has been to redefine retail futures trading, making it more accessible, cost-effective and trader-friendly. Joining forces with Kraken allows us to take this vision to a global scale, expanding our reach and unlocking innovative new use cases.
Together, Kraken and NinjaTrader will power the integration of traditional markets with crypto by offering cutting-edge tools and the ability to rapidly move across asset classes that the most sophisticated traders demand.”
Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Yueh Chiang
