First Cryptocurrency Exchange Win

Kraken engages Beeks to launch a colocation service for ultra-low latency trading, marking the first cryptocurrency exchange partnership

17th March 2025 - Beeks Financial Cloud Group plc (AIM: BKS), a cloud computing and connectivity provider for financial markets, is delighted to announce that it has signed a significant new Exchange Cloud contract with Kraken, one of the longest-standing, most liquid and secure cryptocurrency exchanges, based in San Francisco.

With Exchange Cloud already delivering results in the Tier 1 equity exchanges space, this collaboration marks the first cryptocurrency exchange partnership for Beeks. Together with Kraken, Beeks will offer low-latency, institutional-grade infrastructure from Kraken's European data centre. Kraken will rent cloud compute from Beeks' Exchange Cloud offering under the terms of the partnership.

The crypto exchange market continues to expand, driven by the growing demand for digital assets. With over 500 cryptocurrency exchanges globally with clients that value high-speed trading, this partnership offers exposure to a broad, new customer base where there is significant scope for Beeks to scale.

This partnership is a revenue share deal, which brings various commercial benefits including shortened sales cycles and higher profitability; revenue recognition is set to commence in H2 FY25. With Kraken's large customer base of around 13 million clients, this partnership offers significant opportunity to drive revenue growth. This latest win marks another significant customer to have signed up to Exchange Cloud.

Shannon Kurtas, Head of Trading at Kraken, commented: "Kraken has spent over a decade continuously enhancing our infrastructure and technology, but we recognise that many of our clients require ultra-low latency for their trading strategies. By working with Beeks Exchange Cloud®, we're ensuring that clients who need high-speed execution can optimise their trading strategies while benefiting from the security and reliability of Kraken."

Gordon McArthur, CEO at Beeks, commented: "This partnership is a significant milestone for us as it marks the first step into the crypto platform space. We are proud to support Kraken and its clients and are looking forward to working alongside them to continue innovating the trading landscape in crypto markets."

Find out more at beeksgroup.com

About Kraken

Kraken is one of the world's longest-standing and most secure crypto platforms. Our mission is to accelerate the global adoption of crypto, so that everyone can achieve financial freedom and inclusion. Globally, Kraken clients trade more than 300 digital assets and 6 different national currencies, including GBP, EUR, USD, CAD, CHF, and AUD.

Founded in 2011, Kraken was among the first to offer spot trading with margin, parachain auctions, staking, regulated derivatives and index services under one roof. With millions of individuals, traders and institutions around the world, Kraken offers professional 24/7/365 client support along with one of the fastest, most performant trading platforms available. Kraken has set the industry standard for transparency and client trust, and was the first crypto platform to conduct Proof of Reserves.

Kraken markets can be monitored and traded via the web or through the Kraken and Kraken Pro iOS and Android apps.

For more information about Kraken, please visit www.kraken.com.