Crypto Exchange Kraken Acquires Leading US Retail Futures Trading Platform NinjaTrader

The second-largest US-based crypto exchange by trading volume is expanding its repertoire as it prepares to go public.

Earlier this month, Kraken announced plans to offer an Initial Public Offering (IPO) early next year.

On the heels of the announcement, Kraken now says it has acquired the leading US retail futures trading platform NinjaTrader.

NinjaTrader was founded in 2003, provides services for nearly two million traders, and is a Commodity Futures Trading Commission (CFTC)-registered Futures Commission Merchant (FCM).

According to Kraken, the deal represents the largest ever between traditional finance and crypto.

Says Kraken co-CEO Arjun Sethi of the acquisition,

“Traditional markets run on post-WWII, 1950s banking systems, exchanges that close at 4 p.m. ET and settlement delays that take days to resolve. Crypto rails fixed these issues, operating with efficient and real-time infrastructure.

But legacy finance and crypto have remained separate ecosystems, until today. This transaction is the first step in our vision of an institutional-grade trading platform where any asset can be traded, anytime.”

Says Marty Franchi, CEO of NinjaTrader, in a separate statement,

“NinjaTrader’s mission has been to redefine retail futures trading, making it more accessible, cost-effective and trader-friendly. Joining forces with Kraken allows us to take this vision to a global scale, expanding our reach and unlocking innovative new use cases.

Together, Kraken and NinjaTrader will power the integration of traditional markets with crypto by offering cutting-edge tools and the ability to rapidly move across asset classes that the most sophisticated traders demand.”

Featured Image: Shutterstock/Yueh Chiang