Kraken Futures Futures Exchange announced the entry into the Russian market

Regulated futures marketplace Kraken Futures (formerly — Crypto Facilities), acquired by the Kraken exchange last year,plans to expand its platform in Russia.

In Russia, the exchange will be represented by Alexey Bragin,already known in the cryptocurrency industry. Expansion in the local market will be carried out through personal meetings and promotion through social networks.

Head of Commercial Development Kraken FuturesKevin Beardsley believes that today Russia is the most undervalued market in the cryptocurrency industry. Despite the large number of technical specialists in the USA, China, Japan and Korea, Russia is also among the leaders in infrastructure creation. However, the audience coverage here is relatively small, while the Russian market does not lose its attractiveness. Beardsley gave examples of companies Telegram and TradingView, whose teams consist mostly of Russian-speaking developers.

However, Beardsley said the newKraken will not provide for spot trading and replenishment of accounts in Russian rubles. Management is confident that trading cryptocurrency futures is the safest way to enter a new market due to the relatively low risk of money laundering.

Alexey Bragin himself believes that in Russia the number of cryptocurrency traders is constantly growing, and this is a good prerequisite for the development of cryptocurrency futures trading in the country.

“Despite the youth of the Russian marketderivatives, it is starting to gain momentum. In 2018, traders from the classic futures market began to switch to derivative financial instruments; in 2019, we observed the rapid development of cryptocurrency derivatives, so the trend will continue in 2020,” — said Kraken Futures representative Alexey Bragin.

Let's remember that last month Kraken acquiredpayment company Circle platform for over-the-counter cryptocurrency trading, and in March it introduced two-factor authentication and created a division called Kraken Security Labs, aimed at improving the security of its own products.

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