The acquisition gives the exchange access to more cryptocurrency options in the US
Kraken has expanded its presence in the US derivatives market with a $100 million acquisition of the Small Exchange from IG Group. The deal, announced Thursday, gives Kraken control of a CFTC-licensed designated contract market (DCM), allowing the exchange to offer regulated, exchange-listed derivatives in the US. The move signals Kraken’s continued effort to integrate traditional market infrastructure with crypto-based products under US regulatory oversight.
BOOM. Today, we launched Kraken Derivatives US, a CFTC-regulated crypto derivatives platform integrated directly into Kraken Pro.
This is a significant step forward in building unified, high-performance markets in the United States. Clients in Vermont, West Virginia, North…
— Arjun (Octariun) Sethi (@arjunsethi) July 16, 2025
According to Kraken co-CEO Arjun Sethi, the acquisition will let the company unify clearing, risk management, and matching services within a single trading environment. This structure, he said, will operate to the same standards as major global exchanges. The integration aims to create a more efficient market for US crypto derivatives traders while ensuring compliance with federal regulations.
The Small Exchange purchase also supports Kraken’s broader goal of building a unified trading platform that connects spot, futures, and margin products. By linking these markets under one regulated liquidity system, Kraken hopes to reduce fragmentation and improve trade execution speed. The company also sees the move as part of a global strategy, complementing its existing derivatives operations in the UK and the EU.
Kraken has been steadily investing in derivatives infrastructure worldwide. Earlier in 2025, it completed a $1.5 billion acquisition of NinjaTrader, giving US traders access to CME-listed crypto futures through a single platform. The exchange also owns Crypto Facilities in the UK, acquired in 2019, and recently launched EU derivatives trading under MiFID II regulations.
The timing of Kraken’s expansion reflects the growing importance of derivatives in the crypto industry. While global spot trading volumes fell sharply this year, derivatives trading has remained strong, surpassing $20 trillion in recent quarters. By adding the Small Exchange to its portfolio, Kraken strengthens its position in a segment that continues to drive the evolution of digital asset markets.
