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Home»ADOPTION NEWS»Kraken acquires online brokerage TradeStation’s cryptocurrency division amid U.S. expansion
ADOPTION NEWS

Kraken acquires online brokerage TradeStation’s cryptocurrency division amid U.S. expansion

By Crypto FlexsApril 18, 20242 Mins Read
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Kraken acquires online brokerage TradeStation’s cryptocurrency division amid U.S. expansion
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Special Offer • April 18, 2024 3:48 PM EDT

Posted 1 minute ago In ~

Kraken has acquired the cryptocurrency division of online brokerage TradeStation.

News of the acquisition emerged Thursday following a report by CoinDesk, but the closing date is still unclear as Kraken declined to disclose it. TradeStation declined to comment to The Block.

The acquisition is part of the exchange’s efforts to expand its services in the U.S., a Kraken spokesperson said in a statement to The Block. Kraken’s growth in the US forms part of the company’s broader expansion strategy, with the exchange acquiring licenses in several key European markets, including Spain and Ireland, earlier this year.

“We can confirm that Kraken recently acquired TradeStation’s cryptocurrency business. This transaction is part of our efforts to accelerate our U.S. presence and will open up opportunities for further growth and new products for Kraken in the U.S.,” the company said in a statement Thursday. It was revealed.

According to the U.S. Financial Crimes Enforcement Center (FinCen) database, TradeStation Crypto holds money transfer licenses in 47 states, Washington DC, and Puerto Rico. To avoid violating the law, cryptocurrency exchanges in the United States must obtain a money transmitter license for every jurisdiction in which they operate and register. business activities at the federal level; according to To FinCen.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

About the author

Elizabeth Napolitano is a data reporter covering business and technology news with a focus on cryptocurrency. Before she joined The Block, Elizabeth reported on BigTech, AI, cryptocurrency, and video games for CBS Moneywatch. As a CoinDesk reporter, she covered DeFi, NFTs, and US courts. She received a master’s degree in journalism from CUNY. X: Follow her at @LizKNapolitano.

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