Kraken cryptocurrency exchange plans to occupy the niche of Bitcoin futures in Russia

Last year, one of the largest cryptocurrency exchanges, Kraken, acquired regulated futures provider CryptoFacilities. A month ago, the branch hired Alexei Bragin, and now intends to expand its presence in Russia.

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London subsidiary currentlyoffers futures contracts for Bitcoin, Ether, Bitcoin Cash, Litecoin and XRP. At the moment, the daily trading volume of Bitcoin futures on the platform reaches $ 48 million.

Head of Development at Kraken Futures,Kevin Beardsley stated that “Russia today is the most undervalued market in the context of cryptocurrency.” Beardsley believes that the abundance of technical nuggets, especially in the crypto industry, makes Russia a very attractive market.

&#171;Now the USA and China dominate here.Japan and Korea are a little smaller. Despite the fact that Russia is objectively a leader in the field of infrastructure construction and has a large community, it receives relatively little coverage in terms of trading.&#187;

According to Kraken, Bragin took officein November 2019. He has vast experience in the industry - in 2011, he founded the peer-to-peer crypto futures exchange ICBIT. Subsequently, it was absorbed by the Swedish cryptocurrency exchange Safello in 2016.

A couple of years ago, BitNews managed to communicate with Alexei Bragin. If you missed this interview, you can watch it here:

“Russian traders are increasingly considering“cryptocurrency as another asset class along with goods and currencies,” said Brain CoinDesk, “The rapidly growing number of retail traders combined with the growing recognition of cryptocurrencies are clear positive signals for the growth of cryptocurrency futures trading in Russia.”

Also, according to him, although the derivatives market for Russia is relatively young, it has already managed to develop into “one of the most important markets.”

“Cryptocurrency derivatives are attracting moretraders from traditional stock and futures markets. And now experts expect further growth of the trend throughout 2020, ”said Bragin.

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