Kraken Acquires Coinsetter and Cavirtex to Boost US Market Share
Since their inception in 2011, Kraken has focused their attention on developing market share in Europe, cementing themselves as the world’s largest bitcoin exchange in euro volume and liquidity. They’ve often been reviewed as one of the most innovative exchanges in the space and amongst other accolades were the first to have their market data displayed on the Bloomberg Terminal.
Today, Kraken announced plans to strengthen their market share in America and Canada through the acquisition of NYC-based Coinsetter and Canadian Cavirtex. CEO, Jesse Powell explained the importance of the largest exchange deal in Bitcoin history, citing the occasion as a new era for Kraken
“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. Kraken has big, exciting plans for 2016. This year we will fully leverage what we’ve built as the world’s most trusted and secure bitcoin exchange. This is the year that we make long strides to capture key markets and crank up the volume. This is the year of the Kraken.”
Excited about the acquisition, Coinsetter CEO, Jaron Lukasiewicz explained how he felt Kraken’s experience and platform could benefit their customers
“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. 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.”
Customers of Coinsetter or Cavirtex will experience no disruption with accounts for both being automatically transferred to Kraken’s platform on the 26th of January. To celebrate the occasion, American and Canadian clients will be offered free deposits until the 1st of March.