Kraken Receives Approval to Launch a Derivatives Platform in Bermuda

Kraken has recently announced the launch of its new global derivatives venue in Bermuda. The aim of this initiative is to offer clients a licensed trading platform in a well-regulated jurisdiction.

The new venue provides clients with the advantage of being able to trade derivatives 24/7, in line with the continuous nature of the cryptocurrency market.

It operates under the oversight of the Bermuda Monetary Authority, known for its robust regulation of the cryptocurrency industry, as stated in the press release.

This move by Kraken expands its product offerings, now offering over 200 different derivative contracts. The timing is strategic as more clients are turning to derivatives as a way to manage their exposure to digital assets.