Crypto exchange Kraken is set to acquire the US-based futures trading exchange NinjaTrader for $1.5 billion.

Expected to close in the first half of 2025, it marks the largest-ever deal between decentralized finance and traditional finance, the crypto exchange said.

The deal would allow Kraken to offer to its customers 24/7 futures and derivatives trading of both traditional and crypto assets, in addition to its spot crypto trading services.

The acquisition is a step in the direction of Kraken becoming a multi-asset trading exchange as it has plans to offer equities trading and payments.

NinjaTrader will continue to operate as a standalone platform as one of Kraken’s platforms, such as the real-time analytics service Cryptowatch, regulated derivatives service Crypto Facilities, index provider CF Benchmarks, and staking infrastructure operator Staked.

The futures exchange can also expect to expand into the UK, Europe, and Australia, given Kraken has already secured licenses in these jurisdictions.

“This transaction is the first step in our vision of an institutional-grade trading platform where any asset can be traded, anytime,” said Kraken’s co-CEO Arjun Sethi.

NinjaTrader CEO Marty Franchi said, “Together, Kraken and NinjaTrader will power the integration of traditional markets with crypto by offering cutting edge tools and the ability to rapidly move across asset classes that the most sophisticated traders demand.”

Founded in 2011, Kraken is a US-based crypto exchange that claims to offer its services to 15 million users globally.

Founded in 2003, NinjaTrader is a Futures Commission Merchant (FCM) that is registered with the Commodity Futures Trading Commission (CFTC), the federal derivatives market regulator.