Kraken Plans to Expand in Crypto Derivatives in Wake of FTX Fall
- Crypto Facilities seeking expanded regulatory permissions
- Jennings says volumes remain far lower than pre-FTX crash
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Kraken’s crypto derivatives unit plans to expand its services, targeting a market void left by the collapse of former rival FTX.
London-based Crypto Facilities Ltd., which offers leveraged and cash-settled futures contracts in tokens like Bitcoin and Ether for institutional investors, is in talks with the UK’s Financial Conduct Authority to gain permissions that would allow it to custody a broader range of client assets in the country, Chief Executive Officer Mark Jennings said in an interview.