Kraken acquires to build onshore crypto derivatives market

Kraken acquired 'Small Exchange'

a CFTC-regulated derivatives trading platform owned by IG Group, the major global online trading and fintech firm, in a deal valued at $100 million.  

This acquisition is part of Kraken’s overall strategy to roll out a full derivatives product suite in the US. By strengthening its regulated presence in the world’s largest capital market. Small Exchange’s Designated Contract Market (DCM) license will allow Kraken to design and operate exchange-listed derivatives markets domestically.   Additionally, this acquisition strengthens Kraken’s global derivatives network. Kraken already has established regulated derivatives venues in the UK and the EU. So adding the missing US piece is essential for full service offerings.

Recall Kraken has been building out their offering via acquisitions. They acquired NinjaTrader, enabling American clients to trade CME-listed crypto futures alongside spot crypto.

Who is IG Group?

IG Group acquired Small Exchange in 2023 from Foris DAX Markets, which is the parent company of Crypto.com. The futures exchange platform offers small-sized contracts aimed at retail traders seeking access to the

Want to comb thru the fine details yourself?

Find it here press release.

Summary

Kraken continues to push its tentacles into all forms of finance all while remaining steadfast to its crypto heritage. US based Kraken users will now have the ability to trade in regulated derivatives markets as our peers in EU have. Amazing to see how far the US Crypto market has matured since Jan 20th 2025.  Doesn't mean its perfect but it is maturing!

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