Crypto Facilities, which was bought by cryptocurrency exchange Kraken in 2019, is in talks with the U.K.’s Financial Conduct Authority about expanding its service to custody a broader range of client assets, Bloomberg reported on Thursday.
The London-based firm, which offers futures contracts in crypto assets for institutional investors, is in talks to offer futures contracts denominated in the fiat currency it is holding for the client, CEO Mark Jennings told Bloomberg.
This would require an expansion of its multilateral trading license, which it acquired in 2020. Jennings said he expects this process to take between six and 12 months.
“It’s a key driver