Kraken Expands U.S. Operations with Acquisition of Small Exchange
- Kraken acquired Small Exchange for $100 million, comprising $32.5 million in cash and $67.5 million in stock.
- The acquisition enables Kraken to operate as a designated contract market (DCM) under the Commodity Futures Trading Commission (CFTC).
- This move follows Kraken’s earlier purchase of NinjaTrader for $1.5 billion in March.
- The acquisition strengthens Kraken’s position ahead of its planned initial public offering (IPO) in the U.S., expected in 2026.
With this acquisition, Kraken enhances its exchange capabilities and regulatory compliance within the U.S., positioning itself more favorably in the competitive cryptocurrency market.
The $100 million deal highlights Kraken’s commitment to expanding its derivatives trading offerings, following its significant investment in NinjaTrader earlier this year.
