Crypto exchange Kraken has acquired digital asset-focused broker TradeStation Crypto to expand its presence in the United States, Coindesk reports.

The closing date of the transaction and its financial terms were not disclosed. However, Coindesk reported that a Kraken representative confirmed the TradeStation acquisition in an email. This deal will open up opportunities for further growth of Kraken and the emergence of new exchange products in the United States, a representative of the site said.

TradeStation Crypto is based in Florida. According to the Financial Crimes Enforcement Center, TradeStation Crypto is licensed in 47 US states, Washington DC and Puerto Rico. These licenses allow the platform to make money transfers and conduct cryptocurrency exchange transactions in accordance with US federal laws.

However, the crypto broker had a disagreement with the US Securities and Exchange Commission (SEC), which accused the company of offering unregistered securities. As a result, TradeStation Crypto agreed to pay a $3 million fine, and TradeStation's parent company announced its exit from the cryptocurrency space.

Last year, Kraken itself also had problems with the American regulator. The SEC accused the trading platform of illegally trading crypto assets and failing to register as a broker-dealer.