Coinbase Wants to Be an Everything Exchange. Kraken Bought a Futures Broker. Binance Rented One.
Crypto exchange licences are diverging into four routes: Coinbase is building one with FINRA, Kraken bought one for $1.5 billion, Binance rents partners, and OKX holds dual licences in Hong Kong. Five major crypto exchanges are pursuing regulated status in traditional finance, and they have chosen four different routes. The routes tell you more about each firm's strategy than any product announcement. Coinbase filed for broker-dealer expansion with FINRA and…
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