Kraken Continues Acquisition Spree, Buys Australian Bit Trade
- The deal further bolsters Kraken's OTC trading operation, which acquired Circle Trade last month.
Kraken, one of the world’s longest-operating cryptocurrency exchanges, today finalized its acquisition of yet another company in the Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term industry, this time taking over Bit Trade, one of Australia’s pioneer digital asset platforms.
Since 2013, Bit Trade allows customers to buy and sell bitcoin and other cryptocurrencies with the Australian dollar, along with several supported deposit methods, including credit and debit cards. The platform supports major coins, including Bitcoin, Ethereum, Ripple, and Litecoin.
Bit Trade also operates a multi-exchange aggregator that combines local and global exchanges into a single interface. This aggregation service, which takes the order books of multiple exchanges and combines them into one stream, facilitates block crypto trades using an over-the-counter trading desk.
Bit Trade is a founding member of the Australian Digital Commerce Association (ADCA), an industry body that represents Australian businesses that participate in the blockchain economy.
Kraken expands OTC portfolio
Becoming part of the Kraken family will enable Bit Trade to improve its core portfolio reconciliation product while creating new possibilities for clients who will now have easy access to Kraken’s suite of products.
“With this acquisition, Kraken will focus on being the premier crypto service in Australia with the best AUD liquidity, trading experience, and support for both institutional and retail clients. It also deepens our overall presence in the APAC region, and further bolsters our industry-leading OTC trading operation,” the exchange said in a statement.
Over the past two years, Kraken has transformed itself into a global crypto powerhouse, establishing its strong presence in both the US and European Bitcoin markets. Once the largest Bitcoin exchange in Europe, Kraken has also been a strong contender in the US market, with around three percent market share.
Last month, Kraken acquired Circle Trade, the largest OTC desks in crypto markets that handled last year alone over $24 billion in volume.
The OTC desk was initially tasked with providing liquidity for Circle’s retail bitcoin Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term app, but its presence in the market grew to a scale where it began to serve a whole array of counterparties outside their own internal needs.
Kraken also acquired various crypto exchanges, including Chicago-based non-custodial service Glidera and Dutch Bitcoin exchange CleverCoin.
Kraken, one of the world’s longest-operating cryptocurrency exchanges, today finalized its acquisition of yet another company in the Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term industry, this time taking over Bit Trade, one of Australia’s pioneer digital asset platforms.
Since 2013, Bit Trade allows customers to buy and sell bitcoin and other cryptocurrencies with the Australian dollar, along with several supported deposit methods, including credit and debit cards. The platform supports major coins, including Bitcoin, Ethereum, Ripple, and Litecoin.
Bit Trade also operates a multi-exchange aggregator that combines local and global exchanges into a single interface. This aggregation service, which takes the order books of multiple exchanges and combines them into one stream, facilitates block crypto trades using an over-the-counter trading desk.
Bit Trade is a founding member of the Australian Digital Commerce Association (ADCA), an industry body that represents Australian businesses that participate in the blockchain economy.
Kraken expands OTC portfolio
Becoming part of the Kraken family will enable Bit Trade to improve its core portfolio reconciliation product while creating new possibilities for clients who will now have easy access to Kraken’s suite of products.
“With this acquisition, Kraken will focus on being the premier crypto service in Australia with the best AUD liquidity, trading experience, and support for both institutional and retail clients. It also deepens our overall presence in the APAC region, and further bolsters our industry-leading OTC trading operation,” the exchange said in a statement.
Over the past two years, Kraken has transformed itself into a global crypto powerhouse, establishing its strong presence in both the US and European Bitcoin markets. Once the largest Bitcoin exchange in Europe, Kraken has also been a strong contender in the US market, with around three percent market share.
Last month, Kraken acquired Circle Trade, the largest OTC desks in crypto markets that handled last year alone over $24 billion in volume.
The OTC desk was initially tasked with providing liquidity for Circle’s retail bitcoin Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term app, but its presence in the market grew to a scale where it began to serve a whole array of counterparties outside their own internal needs.
Kraken also acquired various crypto exchanges, including Chicago-based non-custodial service Glidera and Dutch Bitcoin exchange CleverCoin.