Kraken’s Largest Acquisition Brings Traditional Futures Trading to Crypto
Crypto exchange Kraken has finalized a $1.5 billion acquisition of U.S. retail futures trading platform NinjaTrader, marking the largest-ever deal between the crypto and traditional finance sectors. This move cements Kraken’s multi-asset-class expansion, incorporating equities, derivatives, and payment solutions alongside its crypto offerings.
Kraken, which serves 15 million users globally, is now positioning itself as a 24/7 trading hub that seamlessly integrates traditional and digital asset markets.
NinjaTrader’s Role in Kraken’s Expansion
Founded in 2003, NinjaTrader specializes in futures trading, catering to two million traders and operating as a CFTC-registered Futures Commission Merchant. The acquisition gives Kraken direct access to U.S. futures markets, while allowing NinjaTrader to expand internationally through Kraken’s licenses in the U.K., EU, and Australia.
Kraken co-CEO Arjun Sethi emphasized the inefficiencies of traditional finance, contrasting them with crypto’s real-time infrastructure:
"Traditional markets still rely on post-WWII banking systems, closing at 4 p.m. ET and delaying settlements for days. Crypto rails have fixed these issues, and this deal is our first step in merging these two worlds."
Integrating Traditional Finance with Crypto
By acquiring NinjaTrader, Kraken aims to bridge the gap between crypto and legacy finance, offering traders cutting-edge tools and the ability to move seamlessly across asset classes.
While NinjaTrader will continue to operate independently, Kraken plans to integrate it into its expanding suite of trading applications, including Cryptowatch, CF Benchmarks, and Staked.
With Stripe’s $1.1 billion acquisition of Bridge in October previously holding the record for the largest crypto acquisition, Kraken’s move signals a new era of crypto-TradFi mergers. The deal is expected to close in the first half of 2025.
