Cryptocurrency exchange Kraken today said it has acquired U.K. cryptocurrency exchange and indices firm Crypto Facilities Ltd. in a deal described as worth a nine-figure sum.

The exact price was not disclosed, but most reports peg the figure at about $100 million, the same figure Kraken, formally known as Payward Inc., is reported to be in the process of raising from investors.

Founded in 2014, Crypto Facilities operates both as a general cryptocurrency exchange and as a provider of crypto derivatives including crypto futures and spot trading. The company claims that its products “serve to trade and manage the price risk of bitcoin and other digital tokens,” but more importantly it’s also regulated by the U.K. Financial Conduct Authority.

Crypto Facilities services include futures on bitcoin, Ethereum, Ripple XRP, Litecoin and Bitcoin Cash. In addition, it provides data to the CME CF Bitcoin Reference Rate, an index run in conjunction with the CME Group.

For Kraken, the purchase will immediately give the company access to European markets without the need to go through the process of gaining regulatory approval. The deal was signed off by the FCA, meaning that Kraken will now have access to the pre-existing approvals.

“The acquisition of Crypto Facilities reinforces Kraken’s commitment to meeting client demand for innovative products and services that complement its core spot exchange and white-glove OTC service,” Kraken said in a blog post. “Eligible Kraken clients will gain access to futures on six cryptocurrency pairs, providing a highly efficient way to trade and hedge cryptocurrency in any market environment.”

The deal opens the door for Kraken to enter new markets with new products, something that should give it a boost as it continues to grow despite the long bear market in bitcoin and other cryptocurrencies. Kraken said it now has more than 4 million clients in over 190 countries, including professionals, institutions and authorities.

The deal to buy Crypto Facilities isn’t Kraken’s first, but it is its largest. Previous acquisitions include Coinsetter, Cavirtex, CleverCoin, Glidera and Cryptowatch.

Image: Crypto Facilities