bitcoin, bitcoin news, bitcoin exchange, bitcoioinsetter, bitcoin exchange canadan trading services, c Bitcoin exchange Kraken today announced that it is acquiring Coinsetter, another Bitcoin exchange with deep roots in US and Canadian provinces.
The San Francisco-based exchange, which had left the US markets in 2014 citing issues with banking partners, aims to utilize Coinsetter’s presence to reestablish itself in the North American region. As confirmed by CEO Jesse Powell, Kraken is looking to mousetrap the ever-expanding Bitcoin markets in hopes to boost its overall volume. The New York based Coinsetter currently offers Bitcoin trading services in 37 US states, while the exchange’s nationwide presence in Canada is inherited from its previous acquisition of CAVIRTEX, the True North’s first Bitcoin exchange which was closed last year due to security concerns. Together, the two exchanges hosted an impressive Bitcoin volume from both the US and Canadian clientele, an aspect that would benefit the expansion plans of Kraken.
“The acquisition of Coinsetter and Cavirtex marks the beginning of a new era for Kraken,” said Powell. “The consolidation of these three veteran giants is the largest exchange deal to date. Combined, we represent over thirteen years of bitcoin exchange experience in an industry that is only seven years old.”
Coinsetter CEO Jaron Lukasiewicz also expressed a similar confidence on Kraken, and stated: “For years, the teams at Coinsetter and Cavirtex have worked closely with traders, bitcoin companies and investors to advance the burgeoning bitcoin space in North America. We are confident that Kraken is the right world-class company with the resources, vision and drive to successfully carry our torch far into the future.” Kraken also announced partnership with American payment company SynapsePay to enable fast and low-fee USD deposits and withdrawals all across the 37 US states and Washington DC. The exchange claims that it will […]
