Kraken subsidiary scores license from UK regulator, opening futures platform to institutional clients

Crypto Facilities, the U.K.-based crypto exchange acquired last year by Kraken, announced Monday that it had acquired a license that opens the doors to offering derivatives services to institutional investors.

The Multilateral Trading Facility (MTF) license was granted by the U.K. Financial Conduct Authority (FCA). Since its acquisition in February 2019, the firm has been offering its platform under the name Kraken Futures. 

By obtaining the license, the firm expands its pool of possible clients, including those who might otherwise be barred from using platforms that aren't expressly licensed. 

“We undergo these licensing efforts because Kraken is about making crypto accessible for everyone,”  Jesse Powell, Kraken's co-founder and CEO, said in a statement. “This particular license means that a sophisticated class of investors, limited by their own requirements to interface with a regulated venue such as an MTF, will now have access to crypto derivatives in Europe for the first time. More participants means more liquidity and a better experience for everyone.”