Kraken's derivatives division is in talks with UK regulators to expand its business

ChainCatcher news, according to CoinDesk, Crypto Facilities, which was acquired by the cryptocurrency exchange Kraken in 2019, is currently in negotiations with the UK's Financial Conduct Authority to expand its services to custody a broader range of client assets, seeking to enter the gap left in the cryptocurrency derivatives market after the FTX collapse last November.

The company's CEO Mark Jennings stated that Crypto Facilities offers cryptocurrency futures contracts for institutional investors and is currently negotiating to provide futures contracts priced in the fiat currencies held by its clients. Jennings expects this negotiation process to take 6 to 12 months.