- Kraken launches a derivatives trading platform in Bermuda after securing a license from the Bermuda Monetary Authority (BMA).
- The platform offers 24/7 trading with over 200 contracts, catering to the growing demand for crypto derivatives.
- Bermuda’s strong regulatory environment supports Kraken’s expansion into the derivatives market.
Kraken has officially launched its derivatives trading platform in Bermuda after receiving a license from the Bermuda Monetary Authority (BMA). The development places Kraken in a good position to cater to clients needing a regulated venue in a highly regarded international jurisdiction. As the cryptocurrency landscape continues to mature, Kraken is well-placed to leverage the growing demand for derivative trading, which makes up a sizeable chunk of the total crypto trading volume.
The new platform enables the exchange’s clients to trade derivatives around the clock. “Derivatives now account for most of total crypto trading volumes,” noted Shannon Kurtas, Kraken’s Head of Trading. With over 200 contracts available, clients can efficiently tailor their digital asset exposure, leveraging derivatives for capital-efficient hedging and arbitrage opportunities.
Kraken’s Reputation for Security and Transparency
Founded in 2011, the exchange has established itself as one of the most trusted and secure crypto platforms globally. It supports over 200 digital assets and six fiat currencies, including USD, EUR, and AUD. The exchange’s reputation for reliability is further underscored by its commitment to transparency; it was the first crypto platform to implement a Proof of Reserves system.
Bermuda’s regulatory environment, known for its stringent compliance and risk management standards, makes it an ideal location for the exchange’s new offering. Bermuda’s Premier, the Honorable E. David Burt, said:
We are pleased to welcome Kraken to Bermuda and in joining our growing market of BMA licensed digital asset businesses. Since 2017, we set out on a mission to provide regulatory clarity for digital asset businesses which uphold our jurisdiction’s standards in compliance and risk management. We are happy to see global businesses like Kraken recognizing Bermuda as a premier jurisdiction for digital finance.
Flexible Futures Trading with a Range of Collateral Options
Initially, Kraken will offer perpetual and fixed-maturity futures, utilizing various collateral options, including cryptocurrencies and fiat currency. This flexibility allows clients to manage their positions and risks more effectively.
Access to this new derivatives venue is empowered via the leading APIs of the exchange, along with its leading web and mobile platforms, which ensure that clients can trade in a secure and effective manner. Adding the derivatives platform in Bermuda is close to enhancing the service offering of the exchange and cementing further the trading leader in the crypto trading space, further driving crypto adoption for clients worldwide.
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