PANews reported on May 1 that according to Cointelegraph, the crypto exchange Kraken officially launched derivatives trading services in the UK, which are currently only open to "professional clients" who meet the definition of the UK Financial Conduct Authority (FCA). The service is provided through the MTF platform of Kraken's licensed institution Crypto Facilities. This is the first crypto company to obtain an MTF license issued by the FCA in 2020. Alexia Theodorou, head of Kraken's derivatives business, revealed that derivatives trading volume accounts for about 70%-75% of the total trading volume in the crypto market. Although the current spot and derivative trading volumes on the Kraken platform are comparable, the growth rate of derivatives is significantly faster. The innovative products launched this time, such as the multi-collateral perpetual contract, are mainly aimed at providing capital-efficient trading solutions for institutional clients.