Cryptocurrency exchange Kraken will expand its futures platform in Russia, iHodl Russia has learned.
The exchange has reportedly attracted the first representative in the Russian market.
The Head of Business Development at Kraken Kevin Beardsley claims Russia owns the most undervalued cryptocurrency market. He added that many technical specialists in Russia make this market especially interesting.
"Although Russia is a leader in the context of creating infrastructure and has a large community, its coverage is relatively small," Beardsley added.
The extension will not include spot trading or any channels to replenish accounts in Russian rubles. Beardsley believes that futures trading in cryptocurrency pairs is the safest tool to enter a new market and carries "relatively low money laundering risks" through the exchange.
Currently, the Kraken Futures platform supports futures for bitcoin (EXANTE: Bitcoin), ether (ETH), litecoin (LTC), bitcoin cash (BCH) and ripple (XRP).
Earlier iHodl reported that Kraken added support for the second-biggest stablecoin in the world USD Coin (USDC) starting January 8.
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