REG - Beeks Fin Cloud Grp - First Cryptocurrency Exchange Win

Beeks Financial CloudAnnouncement

17/03/2025 07:15

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RNS Number : 8244A  Beeks Financial Cloud Group PLC  17 March 2025

 

Beeks Financial Cloud Group plc

("Beeks" or the "Company")

First Cryptocurrency Exchange Win

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

17(th) 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."

 

For further information please contact:

 Beeks Financial Cloud Group plc
 Gordon McArthur, CEO                             via Alma
 Fraser McDonald, CFO

 Canaccord Genuity                                +44 (0)20 7523 8000
 Adam James / George Grainger

 Alma Strategic Communications                    +44(0)20 3405 0205
 Caroline Forde / Joe Pederzolli / Emma Thompson

 

About Beeks

 

Cloud computing is crucial to Capital Markets and finance.

 

Beeks Group is a leading managed cloud provider exclusively within this
fast-moving sector. Our Infrastructure-as-a-Service model is optimised for
low-latency private cloud compute, connectivity and analytics, providing the
flexibility to deploy and connect to exchanges, trading venues and public
cloud for a true hybrid cloud experience.

 

ISO 27001 certified, we provide world-class security aligned to global
security requirements.

 

Founded in 2011, Beeks Group is listed on the London Stock Exchange (LSE: BKS)
and has enjoyed continued growth each year. Beeks Group now employs over 100
team members across the globe with the majority based at our Renfrew HQ.

 

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
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fapps.apple.com%2Fus%2Fapp%2Fkraken-pro-crypto-trading%2Fid1473024338&esheet=54175874&newsitemid=20250109163758&lan=en-US&anchor=iOS&index=4&md5=adede3edbabf1b7ebd11a04af314200f)
 and Android
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fplay.google.com%2Fstore%2Fapps%2Fdetails%3Fid%3Dcom.kraken.trade%26hl%3Den_GB%26gl%3DUS&esheet=54175874&newsitemid=20250109163758&lan=en-US&anchor=Android&index=5&md5=8530679d1af21b20cc56daecd08ff69c)
 apps.

For more information about Kraken, please visit www.kraken.com
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.kraken.com%2F%3Futm_source%3Dcontent%2Bannouncement%26utm_medium%3Dpress%2Brelease%26utm_campaign%3Dkraken_canada_license_announcement%26utm_content%3Dlink_content&esheet=54175874&newsitemid=20250109163758&lan=en-US&anchor=www.kraken.com&index=6&md5=6d7d6d0debc2c4c4c108f7e687e42e3a)
.

 

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