Kraken has unveiled a regulated cryptocurrency derivatives trading feature to bring futures trading to users in the United States, according to a news release.
Kraken Derivatives US is a new offering that will integrate the crypto exchange’s Kraken Pro platform to provide access to cryptocurrency futures listed on the Chicago Mercantile Exchange for U.S. customers. Kraken Derivatives integrates futures trading with spot, the exchange noted.
“With this launch, Kraken clients in the U.S. can now trade futures alongside one of the world’s most liquid cryptocurrency spot markets,” said Shannon Kurtas, head of exchange at Kraken. “It’s a meaningful step in giving traders broad market access and increased capital efficiency within a regulated and high-performance environment.”
Kraken Derivatives US will also allow customers to access instant funding for seamless transfer of assets used as collateral. It provides a unified interface that customers can tap into as they look to explore advanced trading strategies. Users can now also efficiently manage risk, with the benefit of leveraging a regulated platform.
Expansion efforts to include commodity, fixed income
While Kraken Derivatives US initially offers crypto futures trading, the exchange plans to expand support to commodities, fixed income, foreign exchange, and equity futures.
“Kraken Derivatives US further enriches our unified trading experience, where digital and traditional assets can be accessed side by side without compromising on features, performance or liquidity,” Kurtas added.
The derivatives feature for U.S. users comes a few months after Kraken’s debut of commission-free equities trading for users in the country.
Kraken hit the milestone in April, with its move bringing more than 11,000 stocks and exchange-traded funds to clients. The exchange announced crypto futures for European customers in May and recently unveiled a tokenized equities platform, as well as acquired U.S. retail futures platform NinjaTrader.
Other platforms have also made moves aimed at expanding their respective traction – including Coinbase’s acquisition of Deribit and Robinhood’s major move to acquire Bitstamp.