Kraken looks to acquire NinjaTrader for $1.5 billion
Crypto exchange Kraken to buy NinjaTrader
Crypto exchange Kraken has unveiled its intention to buy U.S. futures platform NinjaTrader for a stupendous $1.5 billion. The deal’s goal is to expand its offerings of crypto futures and derivatives trading in the U.S. Coindesk reports.
"This transaction marks the first step in our vision of creating an institutional-grade trading platform where any asset can be traded at any time,” said Arjun Sethi, Kraken’s co-CEO.
He adds that “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.”
Founded in 2003, NinjaTrader is a CFTC-licensed platform that provides futures trading tools to nearly 2 million customers. Kraken, which serves 15 million clients worldwide, stated that its licenses in the U.K., EU, and Australia will help NinjaTrader expand into those regions.
Kraken eyeing expansion
The American company is targeting a larger share of the crypto derivatives market. Currently lagging behind exchanges like Binance and OKX, which both boast volumes in the tens of billions, according to CoinMarketCap. Its 24-hour derivatives trading volume stands at around $1.2 billion.
Kraken has recently made several moves toward market expansion. Last month, Kraken was in talks to acquire options exchange Deribit for as much as $5 billion. Also, in March the U.S. Securities and Exchange Commission (SEC) dismissed a November 2023 lawsuit that accused Kraken of commingling customer and corporate funds and operating as an unregistered securities broker.
Previously, we reported that Kraken exchange sets sights on Q1 2026 IPO in crypto milestone.
