The cryptocurrencycurrency exchange Kraken acquired TradeStation Crypto, the part of online brokerage TradeStation that manages digital assets, in an effort to strengthen its position in the US market. Kraken’s regulatory standing in the US will improve with the addition of more licenses.
Even though the deal’s exact financials are still unknown, a Kraken official confirmed the purchase over email, suggesting that it is a part of their plan for quickly expanding into the US. In reality, TradeStation Crypto’s parent business chose to leave the cryptocurrencycurrency market following a $3 million settlement with the SEC for its loan program.
One of the many significant steps Kraken takes in its never-ending quest for expansion is this acquisition. The company recently completed the purchase of a Dutch cryptocurrencycurrency business, and it now holds licenses to provide virtual asset services throughout the EU.
TradeStation Crypto, a Florida-based company, has been obtaining a number of regulatory licenses and permits over the past few years, including money transmission licenses in the majority of US states. TradeStation Crypto’s extensively utilized regulatory framework may be leveraged by Kraken to introduce new goods and expansion prospects to the US market.
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