Kraken has announced its acquisition of the crypto-native proprietary trading firm Breakout, to offer prop trading to clients around the globe.
Following this announcement, Breakout will provide traders with the possibility to seize up and scale their edge with zero personal capital at risk through the use of Kraken’s infrastructure and global platform.
In addition, the prop trading platform will allow customers to access up to USD 200,000 in live trading capital and keep up to 90% of their profits, while there will be no deposit required (other than the cost of the evaluation). Both companies will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
More information on Kraken’s acquisition of Breakout
According to the official press release, in order to access its benefits, traders will need to sign up with the email linked to their Kraken account, pass the evaluation, and qualify for up to USD 200,00 in trading capital. At the same time, they will have the possibility to start trading in more than 50 crypto pairs with low latency, deep liquidity, and tight spreads, while also being enabled to keep up to 90% of profits with fast USDS payouts.
The announcement comes after Kraken partnered with Backed in order to expand access to tokenised equities on the Ethereum Mainnet, one of the largest blockchains. The collaboration was set to bring xStocks to the Ethereum blockchain to unlock new opportunities for tokenised stocks and ETFs to be integrated across the smart contract network. In addition, Ethereum’s developers, liquidity, and global user base were expected to make it an optimised place for the next phase of xStock’s expansion, enabling users and live applications to source liquidity securely and efficiently.
