Crypto Facilities’ trading volume is up 500% since Kraken acquired it

Kraken’s acquisition of Crypto Facilities has resulted in “tremendous growth” for the cryptocurrency futures provider, CoinDesk reports. Since joining forces with the crypto exchange back in February, Crypto Facilities has experienced a 500 per cent increase in trading volume.

“I think obviously having the support of a major U.S. exchange helped,” said Crypto Facilities’ head of indices and pricing products Sui Chung. “One of the strengths of Kraken is obviously running some of the most liquid markets for bitcoin cash and litecoin, and that’s translated over to our market as well.”

In just a month since the acquisition by Kraken, Crypto Facilities has processed almost $1 billion in crypto futures across their products. While comparing the numbers from a work week set before the acquisition to one set after, the firm has found a 565 per cent increase in trade volume.

As for their future projects, the company plans to consult their newfound user base for ideas. “Kraken users are very vocal about what products they want to see and what features they want to see, [and] that feedback is very useful for our product guys,” said Chung.