Kraken has announced the launch of a new cryptocurrency futures trading service, available to users in the U.S. This marks a significant step for the platform and its users.
Launch of New Futures Trading Service
Kraken has introduced a service that integrates with the Kraken Pro platform, enabling U.S. traders to trade cryptocurrency futures listed on the Chicago Mercantile Exchange (CME). This new feature allows American users to trade futures alongside spot markets on a single platform.
Features and Functionality of the New Service
The new Kraken Derivatives US feature offers instant funding for seamless collateral transfers and a streamlined interface designed for advanced trading strategies and effective risk management. While the initial offering focuses on cryptocurrency futures, the company plans to expand its support to include commodities, foreign exchange, equity futures, and fixed income products in the future.
Competition in the Derivatives Market
With the launch of this new service, competition in the derivatives market is heating up as other major players expand their offerings. For instance, Coinbase recently acquired Deribit, while Robinhood announced plans to acquire Bitstamp to bolster its global presence in the crypto space.
The launch of Kraken's futures trading service represents an important step towards expanding opportunities for traders in the U.S. It also highlights the growing competitiveness in cryptocurrency and derivatives markets.
