Kraken Earns Billions in Licensing Revenue With CF Benchmarks Acquisition

IconCryptoNewsTerminal Staff14 Jun, 2024

cryptonews.jpg

Kraken Earns Billions in Licensing Revenue With CF Benchmarks Acquisition

Kraken is reportedly making billions of dollars in licensing revenue from CF Benchmarks, a provider of cryptocurrency futures index to the Chicago Mercantile Exchange (CME), which it acquired in 2019. While Kraken has not disclosed the exact figure, it is estimated to be in the billions. The approval of Bitcoin spot ETFs has been a major milestone for its business, according to BeInCrypto. CF Benchmarks provides the underlying index for CME's Bitcoin futures contracts, which have seen a surge in popularity in recent months. Kraken's acquisition of CF Benchmarks has given it a major advantage in the cryptocurrency market. The company is now able to offer a wider range of products and services to its clients, and it is well-positioned to benefit from the continued growth of the cryptocurrency industry. ```

Related News