Strategic Move into Crypto Trading
The cryptocurrency exchange Kraken and Beeks Financial Cloud Group plc (AIM: BKS), a top supplier of cloud computing and networking solutions for financial markets, have partnered strategically to launch a colocation service designed for trading with extremely low latency. With this partnership, Beeks expands its Exchange Cloud capabilities into the rapidly increasing digital asset market, marking its first foray into the cryptocurrency space.
Institutional-Grade Infrastructure for Professional Traders
Beeks’ Exchange Cloud will be used by Kraken, a San Francisco-based exchange renowned for its strong security and extensive liquidity, from its data center in Europe. In order to satisfy the high performance requirements of professional cryptocurrency traders, the service is made to offer institutional-grade infrastructure. This collaboration puts Beeks in a position to benefit from the growing need for quicker, more dependable trading infrastructure, as there are more than 500 bitcoin exchanges operating worldwide.
Revenue Growth Potential
It is anticipated that in the second half of the fiscal year 2025, the revenue-sharing arrangement will start to improve Beeks’ financial results. Kraken’s extensive client base of approximately 13 million users could significantly drive Beeks’ revenue growth, creating new opportunities in the evolving crypto landscape.
Enhancing Trading Speed and Reliability
Shannon Kurtas, Head of Trading at Kraken, highlighted the importance of low-latency trading for their clients’ strategies. She expressed confidence that the partnership with Beeks would deliver the speed and execution reliability essential for competitive trading while upholding Kraken’s high security standards.
Milestone Moment for Beeks
Gordon McArthur, CEO of Beeks, described the partnership as a milestone moment for the company. “This marks our first venture into the cryptocurrency platform space. We’re proud to support Kraken and its clients, and we look forward to driving innovation in the crypto trading sector,” he said.
Positioning Beeks in the Digital Asset Market
The deal reflects Beeks’ strategic push into the digital asset market at a time when demand for sophisticated trading infrastructure is growing rapidly. This partnership underscores Beeks’ ambition to position itself as a key player in the evolving crypto trading ecosystem.
