Kraken, one of the largest cryptocurrency trading venues in the world, has acquired the charting and trading platform Cryptowatch. Used by thousands to trade up to 22 digital assets, Cryptowatch has seen rapid growth in the past two years – increasing its active user-base by 700%.
The financial details of the acquisition have not been made, but it is revealed that Cryptowatch founder,Artur Sapek is joining Kraken to lead the development of its interface as part of the deal while continuing to develop Cryptowatch. Kraken has also already leveraged Cryptowatch to release an upgraded trading interface based on the platform.
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“In just 2 years Cryptowatch grew into one of the pillars of the digital asset trading community,” Sapek said. “Teaming up with an exchange was the natural next step, and Kraken was my first choice. The Kraken team has built a very mature and reliable exchange, and I look forward to working with them to deliver the best trading software in the industry.”
“I’m thrilled to welcome the Cryptowatch trading platform and its founder into the Kraken family,” said Kraken CEO Jesse Powell. “As the industry’s leading charting tool for traders, we plan to devote more resources and talent to further enhance its offering. And we’ve purposed the technology to provide a great new charting and trading platform to Kraken clients as the first step in improving our own interface. It’s a great start to 2017 and I can’t wait to share what else we’ve got in the pipeline.”