Kraken ‘plans’ regulated perp contracts as rivals are quick off the blocks
In the wake of CFTC approval of perpetual futures contracts tied to the spot price of Bitcoin, Kraken expects to offer those to US institutional clients within “the next month.”
Kraken said late Friday that it expects to launch CFTC-regulated perpetual futures contracts in the US in the next 30 days, hours after the US Commodity Futures Trading Commission approved the instruments.
The exchange said when it gains approval, the contracts will be listed on Bitnomial Exchange, a CFTC-regulated exchange recently acquired by Kraken’s parent company, Payward.
Payward said on April 17 that it was acquiring crypto derivatives platform Bitnomial for as much as $550 million, aimed at providing Kraken Pro customers with access to Bitnomial’s perpetual futures offering.