US EditionKraken Acquires U.S.-Licensed Derivatives Platform From IG for $100M
Kraken’s $100 million acquisition of Small Exchange strengthens US derivatives presence ahead of its planned 2026 IPO, marking its fourth deal this year, company officials said.
- On Thursday, Kraken acquired Small Exchange, a CFTC-regulated derivatives trading platform owned by IG Group, in a $100 million deal that included $32.5 million in cash and $67.5 million in stock, marking Kraken's fourth acquisition in 2025.
- By acquiring a CFTC-designated contract market, Kraken can build exchange-listed derivatives in the United States and strengthen its position ahead of a U.S. IPO slated for 2026, Robert Moore said a clearer regulatory environment encouraged investment and M&A this year.
- Under CFTC oversight, Kraken can integrate clearing, risk and matching into one system while leveraging experience from regulated venues in the United Kingdom and European Union, Arjun Sethi said.
- Kraken's move follows peers' big deals such as Coinbase's $2.9 billion Deribit purchase, signaling consolidation as Ripple and others complete multi‑billion transactions this year.
- Moore expects a lot more deals in the next six to nine months as Kraken's co‑CEO said the deal creates a network that reduces capital inefficiencies for U.S. traders.
26 Articles
26 Articles
Kraken Enters U.S. Derivatives Market With $100 Million Small Exchange Deal
The purchase grants Kraken one of the few licenses in the U.S. allowing a crypto platform to build and list its own regulated derivatives products. Co-CEO Arjun Sethi said the deal paves the way for a unified trading framework where clearing, risk management, and execution all operate under a single regulated environment. The integration of Small Exchange will allow Kraken to connect spot, margin, and futures trading, streamlining liquidity and …
The approval of the Bitcoin spot ETFs in the United States was the first symbolic step in the interconnection between the cryptocurrency sector and traditional finance. A rapprochement that has just been confirmed by the Kraken platform, following the acquisition of the Small Exchange company. The Kraken article starts on the market of publicly traded derivatives in the United States has appeared first on Cryptoast.
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