The world’s largest Bitcoin exchange by euro volume, Kraken, acquired New York City-based exchange Coinsetter and Canada’s first exchange, Cavirtex, on January 19, enabling an immediate expansion into the North American market.
In a related deal, Kraken also secured a strategic partnership with American payment provider SynapsePay, enabling institutional clients and individuals in 37 states to process domestic deposits and withdrawals in American dollars.
The acquisition of Coinsetter enabled Kraken to enter the U.S. market with ease, using the advanced trading infrastructure of Coinsetter including FIX, WebSockets and REST APIs for a low latency trading experience and its unique clientele. The Coinsetter platform has been providing Kraken users with Bitcoin security technologies such as SECURICOIN. Created by Coinsetter in 2014, SECURICOIN is an enterprise Bitcoin security solution designed to meet the demands of wall street institutions, by storing bitcoin funds in an offline wallet, that is completely detached from its online exchange.
With Kraken’s leading platform and global team, Coinsetter CEO Jaron Lukasiewicz stated that the acquisition will be beneficial both for users and Coinsetter staff members.
"I’m excited what our acquisition by Kraken means for Coinsetter and Cavirtex customers, who will all benefit from Kraken’s leading platform, global team and unparalleled customer service, Lukasiewicz told Businesswire . 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.”
Despite Kraken’s dominance over the European Bitcoin market, the exchange has struggled to surpass the growth of leading American Bitcoin exchanges such as Coinbase and Gemini, which have shown rapid increase in the volume of USD-to-BTC trading pair.
With the resources of Coinsetter and its veteran […]
