Kraken, a well-known cryptocurrency exchange, aims to strengthen its position in the US market by purchasing TradeStation Crypto, the division of online brokerage TradeStation responsible for digital asset transactions. This acquisition brings Kraken additional licenses, enhancing the company’s regulatory status in the United States.
TradeStation Crypto, which is headquartered in Florida, has obtained numerous regulatory licenses and approvals in the United States over the past few years, including money transmission licenses in many states. With Kraken’s acquisition of TradeStation Crypto, its well-established regulatory framework could be leveraged to introduce new offerings and expand growth prospects in the US market.
Although the financial specifics of Kraken’s acquisition remain undisclosed, an email from one of their representatives confirmed the deal as part of their plan for swift US growth. Previously, the parent company of TradeStation Crypto, following a $3 million settlement with the SEC over lending services, chose to depart from the cryptocurrency sector.
Kraken has recently added another significant achievement to its continuous growth journey by acquiring a Dutch cryptocurrency firm. This deal grants the company EU-wide licenses for providing virtual asset services.
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2024-04-19 00:20