• Kraken MTF provides coin-collateralized contracts for bitcoin, ETH (Ethereum), XRP (Litecoin), and Bitcoin Cash.
  • ClearLoop offers off-exchange connectivity through a single wallet to OKX Bybit Deribit BIT Gate.io Bitfinex Bitget PowerTrade and Bitstamp, with Bitstamp Bitmart to be launched soon.

  • Crypto custody explained: benefits and risks

  • What are crypto derivatives and how do they work

  • Crypto Custody provider Copper will lay off up to 15% of its staff

  • Former Exec Predicts AAX Will Move Toward Legal Procedure

The cryptocurrency exchange Kraken MTF has joined the popular ClearLoop collateral management and settlement system of Copper,.

Kraken’s Multilateral Trading Facility is a London-based facility regulated by UK’s Financial Conduct Authority. BTC Price Index and Live Chart – CoinDesk”>(BTC), ether <a data-position="autolink" href="https://coindesk.com/price/ethereum/" title="Ethereum Price

After the collapse of the crypto exchange FTX left many traders with their funds stranded, there has been a push towards alternative structures such as in custody settlement networks. Copper’s network connects hundreds of institutional clients to OKX bybit Deribit BIT Gate.io Bitfinex Bitget PowerTrade Bitfinex Bitfinex Bitget Bitget PowerTrade. Bitstamp Bitmart will soon be live.

Mark Jennings, CEO of Kraken MTF, said that this is a great way to attract institutional clients who want third-party custody. They can get a single point of access, a single wallet, and be able trade on different platforms and reduce the risk over a period four hours.

Jennings stated that before the FCA’s ban for crypto derivatives was implemented in early 2021 Kraken’s Crypto Facilities traded around $30 billion per month.

Jennings stated that “we have used the MTF since to continue growing with our institutional clients base.” We are not yet at $30 billion per month. We are now moving towards this, and part has been bringing the institutional client base into the venue, by integrating Copper.”

ClearLoop processed 10,6 million trades in May this year with a nominal volume of $64.6 Billion.

Sheldon Reback is the editor.