Kraken Expands US Derivatives Business in $100 Million IG Deal

Kraken, a prominent cryptocurrency exchange, has expanded its US derivatives business through a $100 million deal with IG Group. The acquisition includes a US-licensed futures exchange, which will allow Kraken to offer a wider range of products directly to its US customers. This move is seen as a strategic step for Kraken, as it aims to capitalize on the growing demand for cryptocurrency-related derivatives in the US market. The deal will enable Kraken to provide its clients with access to a broader suite of financial instruments, including futures and options contracts. The acquisition is part of Kraken's broader efforts to solidify its presence in the US market and diversify its product offerings. The company has been actively expanding its services and capabilities to meet the evolving needs of its customer base. The $100 million deal reflects the increasing importance of the US market for cryptocurrency exchanges and the ongoing regulatory efforts to provide a more robust framework for the industry.