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Established in 2011 and headquartered in California, Kraken functions as a cryptocurrency exchange. It provides a trading platform for various crypto assets, featuring pairings with multiple fiat currencies. Bitcoin trading on Kraken is identified by the ticker XBT. The exchange offers several notable features, including margin trading with a leverage limit of 5x for specific assets. Additionally, Kraken supports staking and over-the-counter (OTC) trading, with eligibility based on specific parameters.

One of Kraken's crypto offerings is its futures trading platform, Kraken Futures, which permits a maximum leverage of 50x. It's important to note that certain regions, such as Kraken U.S. customers and individuals in Japan, are restricted from using this platform.