Cryptocurrency Exchange Kraken has acquired the small exchange, a US derivatives trading platform from IG Group (IgG) for $100 million.
Kraken bought the small exchange for $32.5 million in cash and $67.5 million in stock, IG announced on Thursday.
The acquisition allows Kraken to operate as a designated contract market (DCM) in the US thanks to Small Exchange licensing from the Commodity Futures Trading Commission (CFTC).
Kraken expanded its futures and derivatives trading capabilities this year, Having acquired Ninjatrader for $1.5 billion in March.
It also gives the exchange a stronger walk ahead of it long awaited initial public offering (IPO) in the US, which is due for 2026.
