Kraken Subsidiary Gets Greenlight From FCA
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6 July
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A subsidiary of Kraken, Crypto Facilities, has become the very first crypto trading platform to get a Multilateral Trading Facility (MTF) license from the UK’s Financial Conduct Authority (FCA).

According to an official announcement, with the license, focused on crypto derivatives platform will be able to expand its product range and serve institutional clients.

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In addition to that, Crypto Facilities is the first authorized crypto derivatives' marketplace in Europe.

Kraken CEO & Co-Founder Jesse Powell says by obtaining license, a sophisticated class of investors, limited by their own requirements to interface with a regulated venue such as an MTF, will now have access to crypto derivatives in Europe for the first time.

"More participants means more liquidity and a better experience for everyone," he added.

Crypto Facilities Ltd was acquired by Kraken in Fibruary 2019. The platform offers futures contracts in bitcoin (EXANTE: Bitcoin), ether (ETH), XRP (XRP), bitcoin cash (BCH) and litecoin (LTC) with up to 50x leverage.

Previously iHodl reported that InCore Bank AG, a Swiss transaction bank, became the first bank in Switzerland to offer banking services to the Kraken cryptocurrency exchange.

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With the partnership, Europe-based clients of the exchange can fund their accounts in euro via SEPA deposits.

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