The cryptocurrency exchange Kraken has announced the acquisition of the brokerage company TradeStation Crypto, which specializes in trading digital assets. The purpose of the deal is to expand Kraken’s presence in the United States market and strengthen its position as one of the leading players in the cryptocurrency industry. Although the exact timing of the deal’s closure and its financial terms are not being disclosed, a Kraken representative confirmed the acquisition.

The exchange’s representative noted that the purchase of TradeStation Crypto opens up new opportunities for Kraken’s development and the launch of innovative products in the American market. This acquisition will allow the exchange to expand the range of services offered and attract new customers interested in trading cryptocurrencies and other digital assets.

TradeStation Crypto, headquartered in Florida, is a licensed cryptocurrency broker with permissions to operate in 47 U.S. states, as well as Washington D.C. and Puerto Rico. These licenses allow the platform to provide money transfer services and cryptocurrency transactions in accordance with federal law.

Despite this, the company has come under pressure from the SEC. In February 2023, the regulator accused TradeStation Crypto of offering unregistered cryptocurrency lending services. From August 2020 to June 2022, platform customers could lend their crypto assets for interest, which the SEC considered to be illegal activity. To settle the claims, TradeStation Crypto agreed to pay the SEC a fine of $1.5 million, as well as a similar amount to regulators in 26 states.

Despite the regulatory challenges faced by many companies in this industry, Kraken demonstrates confidence in the future of cryptocurrencies and a willingness to invest in the development of its business. It is expected that after the completion of the deal, TradeStation Crypto will continue to operate under the Kraken brand, offering customers an expanded range of services and products related to digital asset trading. Combining the resources and expertise of the two companies will allow Kraken to strengthen its position in the highly competitive cryptocurrency market and attract new users interested in investing in digital assets.

You might be interested in:
23.05.2024

Venture Investors Increase Funding for Blockchain Startups

Venture capital investors invested $2.4 billion in blockchain startups in the first quarter of 2024. Investment growth by 40.3% against the backdrop of the legalization of crypto ETFs and the expected easing of monetary policy by the US Federal Reserve.
20.05.2024

Hong Kong Joins CBDC Testing

Hong Kong is joining the testing of the digital yuan: residents of the city will be able to create wallets and use CBDC to pay for goods and services in both Hong Kong and mainland China.
17.05.2024

Non-EVM Blockchains Outperform EVM-Compatible Networks in Transaction Speed CopyRetry

According to CoinGecko, blockchains that do not support the Ethereum Virtual Machine (EVM) exhibit significantly higher transaction processing speeds compared to EVM-compatible networks. On average, non-EVM blockchains are able to conduct transactions approximately four times faster than their EVM counterparts.
15.05.2024

Bitcoin is a safe haven for investors during inflation

Bitcoin is a safe haven for investors during times of inflation. Limited supply, independence from central banks and growing institutional interest make BTC an attractive asset.
Related Topics
Crypto in Estonia
Crypto license in Hong Kong
Crypto Regulations in Hong Kong
Crypto Regulations in the US
Crypto-Friendly Banks
Cryptocurrency in Hong Kong
Cryptocurrency License
Cryptocurrency License in Estonia
cryptocurrency license in Malta
cryptocurrency license in the USA
Obtaining a cryptocurrency license
Popular
23.05.2024

Venture Investors Increase Funding for Blockchain Startups

Venture capital investors invested $2.4 billion in blockchain startups in the first quarter of 2024. Investment growth by 40.3% against the backdrop of the legalization of crypto ETFs and the expected easing of monetary policy by the US Federal Reserve.
20.05.2024

Hong Kong Joins CBDC Testing

Hong Kong is joining the testing of the digital yuan: residents of the city will be able to create wallets and use CBDC to pay for goods and services in both Hong Kong and mainland China.
17.05.2024

Non-EVM Blockchains Outperform EVM-Compatible Networks in Transaction Speed CopyRetry

According to CoinGecko, blockchains that do not support the Ethereum Virtual Machine (EVM) exhibit significantly higher transaction processing speeds compared to EVM-compatible networks. On average, non-EVM blockchains are able to conduct transactions approximately four times faster than their EVM counterparts.
15.05.2024

Bitcoin is a safe haven for investors during inflation

Bitcoin is a safe haven for investors during times of inflation. Limited supply, independence from central banks and growing institutional interest make BTC an attractive asset.
To help improve your experience of our website we would like to use cookies. This means we collect some information on your activity while you are on the website. For more information read more about our use of cookies here, your setting can be changed at any time. Please accept our use of cookies and help us improve your experience.