Kraken takes over TradeStation’s cryptocurrency wing

As per a statement released by CoinDesk, Kraken has taken over the cryptocurrency wing of online brokerage firm TradeStation. However, the date of closure of the deal is not mentioned, nor is it known. Both Kraken and TradeStation have refused to divulge any further information. 

As per an executive of Kraken, the takeover relates to Kraken’s aim to add to its portfolio of solutions in the U.S. The company has already started on the path of expansion by acquiring certifications from multiple prime European markets, including Spain, Ireland, and others. 

Through a statement release, TradeStation has clarified that Kraken has taken over its crypto wing. For them, their continuing focus is on expanding their footprint in the U.S. and capturing as much of the market share as possible. Fresh items, too, are in the offing.

TradeStation Crypto has money transmitter certifications in 47 states, including Washington D.C. and Puerto Rico, per the U.S. Financial Crimes Enforcement Center (FinCen).

To prevent breaking the rules, U.S.-based crypto exchanges are required to have money transmitter certifications for all the areas in which they run their business and to get their business activities listed with the concerned federal agencies.