Kraken Prepares to Launch Perpetual Futures in US Amid Market Expansion

Kraken, a leading cryptocurrency exchange, is set to launch a new perpetual futures service in the US market. The service will be operated through Bitnomial exchange, which was acquired by Kraken's parent company Payward for up to $550 million in April.

This move marks a significant step towards expanding Kraken's offerings in the US market. The new service is expected to comply with regulations set by the Commodity Futures Trading Commission (CFTC) and will be launched within the next 30 days.

The launch of perpetual futures on Bitnomial exchange comes as Coinbase, another major cryptocurrency exchange, has also received CFTC approval for its own crypto options and perpetual futures. This development is expected to boost competition in the US market for cryptocurrency derivatives.