Kraken is a cryptocurrency exchange that provides spot and futures trading between Bitcoin, Ethereum and 40+ other digital assets.
Kraken is a United States-based cryptocurrency exchange and bank, founded in 2011. The exchange provides cryptocurrency-to-fiat-money trading, and provides price information to Bloomberg Terminal. As of 2020, Kraken is available to residents of 48 US states and 176 countries, and lists 40 cryptocurrencies available for trade. The company played a role in attempting to recover funds lost by investors during the 2014-15 Mt. Gox bankruptcy. According to CoinMarketCap, Kraken is the fourth-largest cryptocurrency exchange in the world (as of January 2021). In 2020, Kraken became, along with Avanti Financial Group, one of the first two crypto exchanges to be legally chartered as banks in the United States (both in Wyoming).
Strategists from Kraken and CF Benchmarks believe the most significant US jobs data revision in 26 years will prompt the Fed to cut interest rates, creating a favorable environment for digital assets.
Kraken’s new Perps service enables users to trade cryptocurrency futures by predicting price movements without owning the underlying assets, supporting over 300 cryptocurrencies.
Kraken has launched its xStocks service in the EU, a strategic move tied to its IPO plans and diversification into tokenized real-world assets.