Copy link
Increase text size
Decrease text size
Link copied

Kraken acquires Australia’s longest-running cryptocurrency exchange Bit Trade

Thu, 16 Jan 2020, 04:53 am UTC

Kraken announced that it has just acquired Australia’s longest-running digital currency exchange Bit Trade.

Kraken shares that it will now be focusing to be Australia’s premier crypto service following this acquisition. The company aims to have the best AUD liquidity, experience in trading and customer support for both institutional and retail clients. It believes that the acquisition will deepen its presence in the APAC region and boost its OTC trading operation.

Bit Trade started in 2013 and has delivered bitcoin and other cryptocurrencies to its customers in Australia. It is a leading provider of bitcoin, cryptocurrency and blockchain services in the country. In addition, it also provides a bill payment service, allowing users to use bitcoin, ether, ripple and other cryptocurrencies to pay for almost anything with crypto.

Following the acquisition, Kraken aims to be a multi-exchange aggregator that combines several trading platforms into a single interface to ensure the best price and execution for its clients. They also want to be one of the largest OTC desks in Australia that allows clients to trade in large volumes without moving markets.

As part of the acquisition, Kraken will absorb the entire team of Bit Trade led by Jonathon Miller, who will now become the Managing Director for Kraken in Australia.

In December, Kraken was sued by its former financial analyst Nathan Runyon. The war veteran, who was hired as the company’s financial analyst, claimed that he discovered several irregularities and brought it up to his immediate superior, Kraken’s chief financial officer (CFO) Kaiser Ng, who ignored it. Runyon filed for leave to decrease the stress levels caused by his work. However, Ng fired him on his first day of vacation.

San Francisco-based Kraken has made a number of acquisitions in the past including major Bitcoin exchanges Coinsetter, Cavirtex and CleverCoin; wallet funding service Glidera; and a multi-exchange charting, trading and portfolio tracking platform Cryptowatch. Last February, it acquired Crypto Facilities, a regulated crypto trading platform and index provider, in a nine-figure deal.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Moses
  • 2020.05.04 04:17:13
I am a cryptocurrency trader and i make over 200% daily, If you are interested,i can teach you how to trade and also help you achieve your goal in life with crypto i can turn
$4500 into $35000 in less then four weeks,now that bitcoin has low prices...please note that cryptocurrency trading is bitcoin unlike binary and Forex,bitcoin is traded for altcoins also you can reach to me if you are new to bitcoin and to give you more info and guideline on how to invest smartly, this is opportunity life time knocking on your door inbox me for more me on whatsapp :+12067425358 happy new year to you all
  • 0
  • ·
  • 0
  • Bitcoin (BTC) $11,590.40 (+1.04%)
  • Ethereum (ETH) $388.53 (+1.17%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Chainlink (LINK) $16.09 (+24.03%)
  • Bitcoin Cash (BCH) $289.72 (+1.80%)
  • Bitcoin (BTC) $11,590.40 (+1.04%)
Feb 21, 2020 (Friday)
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
Brazil to launch new payment system in response to cryptocurrencies
Digital currency exchange Coinbase Pro lists Kyber Network token
Norwegian Air to soon start accepting crypto payments
Swedish central bank begins CBDC pilot with Accenture
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
Telecom companies complete cross-carrier mobile payments using blockchain
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
South Korean ICO project discontinued, to return $7.5M to token holders
Samsung maintains crypto support in soon-to-launch Galaxy S20
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
Coinbase becomes first crypto company to receive Visa principal membership
Dubai Economy and six banks launch KYC Blockchain Consortium
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.