Share this article
Crypto Exchange Kraken's UK Derivatives Unit Looking to Expands Its Service: Bloomberg
The firm is looking move into a void in the crypto derivatives market left when FTX collapsed last November.
Updated Sep 7, 2023, 3:11 p.m. Published Sep 7, 2023, 3:11 p.m.
Crypto Facilities, which was bought by cryptocurrency exchange Kraken in 2019, is in talks with the U.K.'s Financial Conduct Authority about expanding its service to custody a broader range of client assets, Bloomberg reported on Thursday.
The London-based firm, which offers futures contracts in crypto assets for institutional investors, is in talks to offer futures contracts denominated in the fiat currency it is holding for the client, CEO Mark Jennings told Bloomberg.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
This would require an expansion of its multilateral trading license, which it acquired in 2020. Jennings said he expects this process to take between six and 12 months.
"It’s a key driver as we expand out what we do in the institutional market across crypto,” Jennings said.
The firm is looking move into a void in the crypto derivatives market left when FTX collapsed last November.
"Prior to FTX we’d be hitting $700 million to $800 million a day” in trading volume, Jennings said. It is now closer to $100 million, he added.
The total volume in the crypto derivatives market fell to $1.62 trillion in August, a drop of over 12% from the month before and its second-lowest level since 2021, according to data provider CCData.
Neither Kraken nor the FCA immediately responded to CoinDesk's request for further comment.
Read More: Deribit Sees 17% Growth in Crypto Derivatives Trading Volume in August, Led by Options
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
DAWN raises $13M to expand decentralized broadband networks
The decentralized wireless protocol plans U.S. expansion and new international deployments as investors back a user-owned alternative to legacy internet providers.
What to know:
- DAWN raised $13 million in a Series B led by Polychain Capital.
- The protocol enables individuals and organizations to own and monetize wireless broadband infrastructure.
- New funding will support U.S. growth and international rollouts.
Top Stories
