The second largest American crypto exchange due to trade volume is expanding its repertoire while it is preparing to become public.
Earlier this month, Kraken announced plans to offer a first public offer (IPO) early next year.
On the heels of the announcement, now crack out It has taken over the leading US Retail Futures Trading Platform Ninjatrader.
Ninjatrader was founded in 2003, offers 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 finances and crypto.
Says Kraken Co-CEO Arjun Sethi of the acquisition,
“Traditional markets are performed on banking systems after the Second World War, the 1950s, exchanges that close at 4 p.m. and settlement delays that days take days to resolve. Crypto rails have solved these problems that work 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 on a trading platform for institutional quality where each can be actively traded at any time. “
Says Marty Franchi, CEO of Ninjatrader, in a separate rack“
“The mission of Ninjatrader has been to redefine retailfutures trade, making it more accessible, more cost-effective and trader-friendly. According to forces with Kraken, we can bring this vision to a global scale, expand our reach and unlock innovative new use cases.
Together, Kraken and Ninjatrader will drive the integration of traditional markets with crypto by offering advanced tools and the ability to quickly move over activa classes that demand the most advanced traders. “
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Featured image: Shutterstock/Yueh Chiang
