Kraken Buys NinjaTrader for $1.5B to Enter U.S. Crypto Futures Market
The deal could be a way for the crypto exchange to move into another asset class and increase its users.
Crypto exchange Kraken is buying U.S. futures trading platform NinjaTrader for $1.5 billion, the firm said on Thursday.
Through the acquisition, Kraken can now offer crypto futures and derivatives in the U.S. as NinjaTrader is a CFTC-licensed platform. Also, Kraken's U.K, EU and Australian licenses will allow NinjaTrader to expand in those regions.
"This transaction is the first step in our vision of an institutional-grade trading platform where any asset can be traded, anytime,” said Arjun Sethi, Kraken’s co-CEO.
"Joining forces with Kraken allows us to take this vision to a global scale, expanding our reach and unlocking innovative new use cases,” said Marty Franchi, CEO of NinjaTrader
Earlier in the day, the Wall Street Journal first reported the news, citing people familiar with the matter.
