Crypto exchange Kraken is reportedly closing in on a $1.5 billion acquisition of trading platform NinjaTrader, a move that would expand Kraken’s customer base and enable it to offer crypto futures and derivatives in the US.
The deal could be confirmed by the morning of March 20 in the US, The Wall Street Journal said in a March 19 report, citing people familiar with the matter.
Kraken’s expanded offerings would be made possible through NinjaTrader’s registration as a Futures Commission Merchant.
The move would help Kraken’s strategy to work across several asset classes — including plans for equities trading and payments — while enabling NinjaTrader to expand into the UK, continental Europe and Australian markets, the sources told WSJ.
NinjaTrader is expected to remain a standalone platform under Kraken.
Cointelegraph reached out to Kraken and NinjaTrader for comment but did not receive an immediate response.
Source: <a data-ct-non-breakable="null" href="https://x.com/WSJmarkets/status/1902496460509261915" rel="null"