Kraken’s Derivatives Arm Joins Copper’s Crypto Settlement Network
Summary
Kraken MTF, the institutional derivatives trading arm of cryptocurrency exchange Kraken, has joined Copper's collateral management and settlement network, ClearLoop. Kraken MTF, based in London and regulated by the UK's Financial Conduct Authority, offers coin-collateralized futures contracts across bitcoin, ether, XRP, litecoin, and bitcoin cash. Copper's off-exchange network provides hundreds of institutional customers with connectivity to various crypto platforms. Before the ban on crypto derivatives for retail customers took effect in 2021, Kraken's Crypto Facilities was trading around $30 billion worth of volume a month. In May, ClearLoop processed 10.6 million trades with a notional volume of $64.6 billion.
