As a seasoned researcher with a keen interest in the dynamic world of cryptocurrencies, I find Kraken’s expansion into Bermuda an intriguing development. Having closely followed the crypto market for years, it’s clear that the industry is evolving at a rapid pace, and Kraken’s move to offer derivatives trading reflects this evolution.
Kraken, in an expansion move, has established a fresh derivatives trading platform in Bermuda, which is regulated by the Bermuda Monetary Authority.
Kraken, a significant worldwide cryptocurrency platform, has debuted a novel derivatives trading service in Bermuda following approval of its digital asset business permit by the Bermuda Monetary Authority, as stated in a company announcement.
The move comes as the U.S. Securities and Exchange Commission increases scrutiny on crypto exchanges, pushing firms like Kraken to seek offshore opportunities.
Due to obtaining the BMA (Bermuda Monetary Authority) license, Kraken is now able to provide its customers with a variety of cryptocurrency derivative products, including perpetual and futures contracts with set maturity dates. These derivatives can be collateralized using multiple assets, including fiat currencies and over thirty different cryptocurrencies, according to the announcement.
As an analyst, I can express that derivatives are agreements, often used in finance, which enable individuals to either predict or protect against future asset value fluctuations. These instruments play a pivotal role in the crypto trading sphere and significantly contribute to the total global trading volume. By providing derivatives, we empower our clients to effectively navigate financial risks while seizing market prospects.
Kraken in Bermuda
Bermuda has emerged as a popular choice for cryptocurrency companies thanks to its transparent legal system. Now, Kraken is among the significant firms such as Coinbase and HashKey Global that have been granted BMA licenses.
Kraken’s latest system facilitates continuous trading around the clock, mirroring the non-stop dynamics of the cryptocurrency market, and aspires to draw in customers seeking a controlled setting offering an extensive variety of derivative products.
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2024-10-03 22:12