Cryptocurrency exchange Kraken has launched a derivatives trading platform in Bermuda after obtaining a license from the Bermuda Monetary Authority (BMA). Bermuda is increasingly becoming a favorable location for regulating cryptocurrency activities, with Kraken joining Coinbase International and HashKey Global on the island. Kraken, operating as Payward Digital Solutions, received a Class F Digital Business License on July 30, allowing it to offer wallet services, operate as a digital asset derivative exchange provider, and provide digital asset lending services. The platform offers perpetual and fixed-maturity futures with over 200 contracts, accepting fiat currency and more than 30 cryptocurrencies as collateral. Kraken's expansion aligns well with the growing trend of derivatives dominating crypto trading volumes. The Bermuda Digital Asset Business Act, passed in 2018, has attracted investments from major players like Binance and Coinbase International, positioning Bermuda as a compliant jurisdiction for crypto activities. Read more AI-generated news on: https://app.chaingpt.org/news