Kraken, t he famous digital assets trading service has announced the acquisition of CleverCoin, one of the first Netherland-based Bitcoin exchanges. Kraken seeks to expand its product offerings and services to European customers.
Kraken is one of the most popular cryptocurrency exchanges in the world. Founded in 2011, the San Francisco-based company (although most of its volume comes from Europe) offers exchange and trading services (up to 5x leverage) in a wide variety of currency pairs.
With this acquisition, Kraken is one step closer to secure the total dominance over digital assets trading volume in the European region. The exchange will absorb thousands of new clients, and will reach new jurisdictions. Kraken CEO Jesse Powell said that existing clients of CleverCoin will be automatically transferred to the Kraken platform on June 29.
CleverCoin was founded in 2013, the company was one of the first Bitcoin exchanges in the Netherlands. The startup was accelerated by Boost VC, an investment firm backed by venture capitalist Tim and Adam Draper. Speaking of ClerverCoin’s acquisition by Kraken, CTO and Co-Founder of the Dutch company Karsten Nilsen said: Kraken is the ideal custodian for CleverCoin going forwards. They are, by every measure, the largest bitcoin and digital asset exchange in Europe and our core beliefs are perfectly aligned. As of today, CleverCoin clients will have seamless access to all the features and benefits of Kraken’s global brand, including the ability to trade many of the most popular currency pairs, the latest technology, the most advanced security, and faster Single Euro Payments Area (SEPA) transfers. The announcement is available on Kraken’s corporate blog reflects the possible impact of the company’s new acquisition: Since the majority of CleverCoin clients are in European countries, the acquisition is expected to have the greatest impact on Kraken’s euro trading […]
