Kraken Expands with Bermuda License for Regulated Crypto Derivatives Trading

• Kraken secures a Bermuda license to offer regulated crypto derivatives trading with over 200 contracts.
• Bermuda attracts crypto firms with its clear regulatory framework and innovative digital asset policies.

Kraken, a major cryptocurrency exchange, announced that it has secured a license from the Bermuda Monetary Authority. The license enables Kraken to start its regulated derivatives trading platform in Bermuda.

This move not only improves Kraken’s position in the global crypto sector, but it also allows customers to trade crypto derivatives legally and safely under a rigorous regulatory environment.

Kraken’s new Bermuda platform provides over 200 contracts, including perpetual and fixed-term futures, allowing traders to trade derivatives around the clock. Shannon Kurtas, Head of Trading at Kraken, stated:

“Derivatives now account for the majority of total crypto trading volumes. Clients use derivatives for capital-efficient hedging, cross-margined exposure, as well as yield and arbitrage opportunities, among others. Providing our clients with the ability to trade derivatives securely and efficiently means they can take advantage of these diverse opportunities more easily as we anticipate continued growth in derivative volumes and open interest.”

Kraken Strengthens Bermuda’s Position as a Crypto Hub 

Kraken’s move to Bermuda demonstrates how the country has become an appealing location for cryptocurrency firms. Bermuda’s clear laws and support for innovation in the digital asset field make it an obvious choice for many enterprises.

The BMA, as a reputable financial regulatory institution, has experience supervising financial services, including cryptocurrency.

This advantageous climate has attracted not only Kraken, but also several other prominent businesses in the crypto market, like Coinbase International and HashKey Global, which have previously secured licenses to provide derivatives trading services in Bermuda.

Bermuda has gained prominence as a critical location for enterprises dealing in the digital assets sector. As more companies choose Bermuda, it is evident that the country has a particular advantage over other jurisdictions in terms of innovative and crypto-friendly policies.

Meanwhile, Kraken is not only looking to expand in Bermuda. Kraken also made important steps in Europe, as CNF previously reported, by finalizing the acquisition of Dutch brokerage BCM, putting it one step ahead of the adoption of MiCA laws in Europe.

This acquisition strengthens Kraken’s position in the European market and expands their crypto offerings across numerous nations.