Kraken Exchange valued at $4 billion

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Kraken exchange is in the process of finalising a massive deal; the biggest one in the crypto year to date, with its acquisition of Crypto Facilities for $100 million. Following completion of this deal, Kraken, a US and Europe-based exchange is set to raise a funding round valuing the company at $4 billion, according ot an official statement from Kraken, which currently has a round 4 million active users.

The purchase of Crypto Facilities makes Kraken a regulated futures and index products operator in Europe. It would also put it in the top three exchanges alongside Coinbase and Binance.

In its statement Kraken said, “Kraken launches futures trading via nine-figure deal, will soon close a fundraising round at $4B valuation, has 100 developers and growing, reveals consumer-friendly rebranding, and launches the first podcast to show juicy inner workings of a crypto company.”

The deal is being closed with the approval of the UK’s Financial Services Agency (FSA) that would allow the exchange to expand its range of products in Europe prior to closing a new funding round.

Kraken CEO Jesse Powell remarked, “We are excited to introduce eligible clients to these industry leading futures and index products. Over the coming months, our teams will continue to enhance and expand these offerings. We’ve got great stuff in store for traders and institutional clients in 2019.”

Kraken, as well as Coinbase and Binance have established industry standards for security since the early days of the cryptocurrency sector, as well as significantly improving the transparency and communication between exchanges and their users. As a result they have become the big three cryptocurrency exchanges in the global market with millions of active users, an international market, and strategic investors on board.

This deal, and others recently involving Coinbase and Binance, have all come during one of what some might say is the worst bear market in history.

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