Former Managing Director of UK-based crypto exchange B2C2, Kevin Beardsley, has joined Kraken, one of the world’s longest-operating cryptocurrency platforms, to lead its futures business development.
Formerly Crypto Facilities, Kraken Futures is a London-based financial services firm that provides FCA-regulated risk management and trading solutions for digital assets. Now operating as Kraken’s spot derivatives platform, the company was bought in a deal valued in the nine-figure range.
Kraken said the deal helped volumes double by $1 billion to $2.5 billion last month as the new arm enables its eligible clients to gain access to futures on six cryptocurrency pairs, providing a unique instrument to trade and hedge cryptocurrencies.
Prior to joining B2C2, one of the largest OTC brokers/market makers in the crypto space and also provides related liquidity services, Kevin had served as Head of Business Development Manager at Elliptic, a Bitcoin custodian company. Elliptic helps banks and law enforcement agencies monitor Bitcoin transactions and detect suspicious activity.
FBS To Celebrate 11th Anniversary with A Massive GiveawayGo to article >>
Kraken transformed into a global crypto powerhouse
During his two-year tenure, he was tasked with growing the client base for Elliptic Vault, which offers investment funds and publicly listed firms storage services for Bitcoin holdings.
Before that, Beardsley was Director of Membership at the Bitcoin Foundation, a non-profit association that coordinates the efforts of Bitcoin industry participants, where he served for most of 2014.
Beardsley left B2C2 last year to join a newly-incorporated firm called Elwood Asset Management where he was in charge of investment plans related to crypto-assets. His move to the asset manager came as several mainstream finance firms aim to gain exposure to cryptocurrencies or, at least, navigate the blockchain industry. Some big banks are also considering whether to start a trading desk to make markets in digital currencies.
Over the past two years, Kraken has transformed itself into a global crypto powerhouse, establishing its strong presence in both the US and European Bitcoin markets. Once the largest Bitcoin exchange in Europe, Kraken has also been a strong contender in the US market.