Regulatory licences held by the two companies will let Kraken offer crypto futures and derivatives in the U.S. and help NinjaTrader expand into the U.K., Europe, and Australia. The deal, which was first reported by The Wall Street Journal, is the largest ever combining crypto with traditional finance, Kraken said in a release. (The Logic, The Wall Street Journal)

Talking point: U.S. President Donald Trump’s crypto-friendly stance has helped change the fortunes of the industry, paving the way for deals like this. The U.S. Securities and Exchange Commission agreed to drop a lawsuit against Kraken earlier this month, abandoning a legal argument that the firm should be regulated like a stock exchange. Kraken’s NinjaTrader acquisition follows payments giant Stripe’s US$1.1-billion deal to buy stablecoin platform Bridge in October. Earlier this month, Toronto’s WonderFi announced it would expand beyond crypto into derivatives trading by partnering with Australian fintech Eightcap.