Kraken has announced the launch of its new global derivatives venue in Bermuda. This initiative aims to provide clients with a licensed trading platform in a recognized jurisdiction.
Kraken’s new venue allows clients to trade derivatives around the clock, aligning with the 24/7 nature of the cryptocurrency market. According to the press release, the exchange operates under the regulatory oversight of the Bermuda Monetary Authority, which is recognized for its strong framework in cryptocurrency regulation.
With this launch, Kraken expands its offerings to include over 200 different derivative contracts. The timing is important, as many clients seek to use derivatives to better manage their digital asset exposures.
Flexible Futures Trading Available
Initially, Kraken will offer perpetual and fixed maturity futures. These will be available against various collateral options, including fiat currencies and more than thirty cryptocurrencies. This variety aims to give clients greater flexibility in managing their positions and associated risks.
Access to the derivatives venue is provided to clients in eligible jurisdictions. They can connect through Kraken’s application programming interfaces (APIs) and its web and mobile platforms.