Crypto facilities are given the nod by FCA to establish the future of cryptocurrencies
Crypto Comfort, a subsidiary of Kraken cryptocurrency exchange, has received a Multilateral Trading Facility (MTF) license from the UK's Financial Regulatory Authority (FCA).
MTF is a European regulatory term for a self-regulatory financial trading venue. MTF is an alternative to a traditional stock exchange, where a market is made up of securities, often using electronic systems.
Speaking of this as being the first on the European continent, Crypto Gadget said the license allows it to expand its product range. It will do this while staying within the specified perimeter.
Traditionally, MTF licenses have often been granted to approved market operators or larger investment banks. This is to allow retail investors to trade financial securities.
For Crypto Facilities, getting a nod from regulatory authorities means it is now better placed to serve institutional clients.
In a statement, Jesse Powell, CEO and co-founder of Kraken, said that getting the license meant that restricted investors could communicate with a regulated location like MTF. This allows them for the first time access to cryptocurrency derivatives tools in Europe.
Powell adds, we underwent these licensing efforts because Kraken is about making cryptocurrencies accessible to everyone.
Crypto Facility The MTF MTF announcement comes a few days after FCA releases the results of a cryptocurrency study. Research shows an increase in the number of UK citizens who own cryptocurrencies.
In addition to Crypto Comfort authentication, institutions are regulated to choose the MTF because they provide a level playing field for all market participants.
Buyers and sellers are matched by a set of transparent rules that do not discriminate between members. When buying an instrument at a certain price, the user can do so with the corresponding sell order.
In addition, the MTF also complies with the European Union (EU) Market in the Financial Instrument Directive II (MiFID II). MiFID II aims to increase competition in the financial markets and enhance investor protection.
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