Kraken launches spot margin trading for US users

U.S. crypto exchange Kraken has begun offering spot margin trading services to its users in the country, The Block reported. The move comes less than a month after Kraken acquired Bitnomial, a Chicago-based derivatives exchange and clearinghouse, for $550 million. Previously, U.S. retail investors often had to turn to overseas exchanges for margin trading due to a lack of compliant domestic options. Kraken's physically-settled margin trading service will allow for up to 10x leverage.