Coinbase, the largest crypto exchange in the US, is said to have acquisition talks with Derivatives Platform Deribit.
With reference to people who are familiar with the business, Bloomberg report That Coinbase is in advanced discussions with Deribit to acquire the company.
Deribit is currently the largest centralized trading platform for Bitcoin (BTC) and Ethereum (ETH) option contracts per volume.
Both companies have informed supervisors in Dubai where Deribit has a license. The license would be taken over by which company the trading platform acquires.
Financial details of the deal – which may not continue – have not been established, but Bloomberg reported earlier this year that Deribit could be appreciated between $ 4 and $ 5 billion.
Both companies refused to comment and asked the sources of Bloomberg not to be identified because of the confidential nature of the discussions.
In a similar step, Kraken, the second largest crypto exchange in the US, has taken over Futures Trading Platform Ninjatrader
Ninjatrader, founded in 2003, offers services for nearly two million traders and is a Commodity Futures Trading Commission (CFTC) Registered Futures Commission Merchant (FCM).
Kraken says that the deal represents the largest ever between traditional finances and crypto.
Kraken Co-CEO Arjun Sethi said,
“Traditional markets are performed on banking systems after the Second World War, the 1950s, exchanges that close at 4 p.m. and settlement delays that days take days to resolve. Crypto rails have solved these problems that work with efficient and real-time infrastructure.
But Legacy Finance and Crypto have remained separate ecosystems until today. This transaction is the first step in our vision on a trading platform for institutional quality where each can be actively traded at any time. “
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