International Finance

Kraken granted licence to offer derivatives trading in the UK

It received a Multilateral Trading Facility (MTF) licence from the Financial Conduct Authority

London-based cryptocurrency exchange Kraken is granted licence to offer derivatives trading, media reports said. Kraken has received approval from the the country’s financial regulator to start operating its derivatives platform.

Kraken Futures is also known as Crypto Facilities. It received a Multilateral Trading Facility (MTF) licence from the UK’s Financial Conduct Authority. With the new licence, institutional clients can trade on the platform which would have not been possible otherwise.

Also, it is reported that the licence makes the firm the the first and only licenced derivatives platform in the EU to offer well developed cryptocurrencies in the market. Established in 2011, Kraken is a US-based cryptocurrency exchange.

More recently, Kraken Security Labs identified new potential hacks against Ledger. Kraken Security Labs is a subsidiary of the US-based cryptocurrency exchange. That said, Ledger is a major hardware wallet manufacturer.

Ledger CTO Charles Guillemet, told the media, “We are grateful to the Kraken team for bringing this vulnerability to our attention. While we have addressed this issue at length on Ledger, we want to assure our users that funds stored on their Ledger Nano X could never be accessed, since the Ledger Nano X’s security relies on the Secure Element – not on the MCU chip. The issue could allow an attacker who intercepted the device during the supply chain to install malware on the user’s PC, though the funds would still be safe. While there are various measures that must be met in order to pull this minor vulnerability off, it’s extremely unlikely that this kind of attack would be performed successfully.”

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