Cryptocurrency exchange Kraken has officially launched a new regulated derivatives trading platform in Bermuda, following the acquisition of a Class F Digital Business License from the Bermuda Monetary Authority.
This initiative allows Kraken to offer a comprehensive range of over 200 contracts, including perpetual and fixed-maturity futures, aimed at providing a secure and reliable trading experience for its clients.
The new global derivatives venue enables clients to trade around the clock, aligning with the continuous nature of the cryptocurrency market. This accessibility is designed to meet the growing demand for derivative products among traders.
Kraken’s platform features a wide variety of derivative contracts, which include options for both perpetual and fixed-maturity futures. This variety is intended to give traders greater flexibility in managing their positions and risks.
With the introduction of the new derivatives, clients will be able to use various collateral types, including fiat currencies and more than thirty cryptocurrencies, enhancing their trading strategies and capital efficiency.
Shannon Kurtas, Head of Trading at Kraken, noted that derivatives now account for a significant portion of total crypto trading volumes. He emphasized that the ability to trade derivatives securely and efficiently allows clients to capitalize on diverse opportunities in the market.
In light of increasing regulatory scrutiny in Europe, Kraken recently announced plans to delist Monero (XMR), a privacy-focused cryptocurrency. This decision reflects the ongoing challenges faced by cryptocurrency exchanges as they navigate complex regulatory landscapes.