Kraken Acquires Australian Firm, Bit Trade

Kraken Acquires Australian Firm, Bit Trade

Kraken has announced the acquisition of Bit Trade – the longest-running Australian crypto service provider.

Bit Trade has been in business since as far back as 2013. In that time, it has established a solid reputation thanks to its intuitive and sophisticated products and its assistance on ensuring security and regulatory compliance. This made it an ideal acquisition for Kraken, who will now be able to benefit from its established name while helping to take the firm to the next stage with their own industry expertise. 

As per the blog post announcing the news of the new acquisition, “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.” The blog post went on to say that it “also deepens (their)overall presence in the APAC region, and further bolsters our industry-leading OTC trading operation, which acquired Circle Trade, one of the most recognized OTC desks in crypto last month.”

As well as Circle Trade, the platform also acquired the London-based cryptocurrency derivatives trading platform and industry-leading index provider, Crypto Facilities, and cryptocurrency hedge funds’ firm, Interexchange in the Summer. With this considered, this is just the latest in a long line of acquisition the firm have conducted, with it unlikely to be the last either as Kraken continue pushing forward both internally and externally.

In terms of Bit Trade itself, the same team will continue to work at the firm, just now under the new guidance of Kraken. With Jonathon Miller, the former managing director and co-founder of Bit Trade, being appointed the new Managing Director for Kraken in Australia.

Due to the new deal between the two firms, Kraken will now offer a multi-exchange aggregator which will combine several trading platforms into a single interface and the ensure best price and execution for clients.  As well as this, Kraken will now brag one of the largest OTC desks in Australia, allowing users to trade in large volume without moving markets.

Exciting stuff!

Ready to join our tribe?

We respect your email privacy

Subscribe now to recieve exclusive updates and offers!

Recently Similar News

Latest Guides

Latest News

Bitcoin,CoinMarketCap,Trading

Bitcoin On The Rebound Following Elon Musk’s Latest Announcement

The price of the world’s largest cryptocurrency is rising again following the latest comments from Elon Musk. Bitcoin’s price has climbed and stayed above $40,000 on Monday 14th June, following an announcement by Musk that Tesla will, once again, start accepting BTC payments. The latest comments have proven once more what a powerful influence the […]

16 June, 2021
Bitcoin,Cryptocurrency,Regulation

Bitcoin Is Now Legal Tender In El Salvador

The world largest cryptocurrency has become a legal currency in El Salvador. Following a congressional vote held on Tuesday, a significant majority agreed to adopt Bitcoin and use it alongside the country’s other currency, the US dollar. In the words of El Salvador’s President, this decision has made “history”. Within the next 90 days, all […]

10 June, 2021
advertisement,Cryptocurrency,Google

Google Updates Its Advertising Policy To Allow Crypto Ads

Global search engine giant, Google, has announced that it will be accepting cryptocurrency advertisements targeting customers in the US. This change to the tech giant’s financial products and services ads policy is expected to be made at the start of August 2021. As a result, operators of cryptocurrency exchanges and wallets will be able to […]

8 June, 2021
Bitcoin,Coinbase,Trading

Coinbase Stock Loses Over 25% Since April IPO

It was hailed as one of the greatest moments in cryptocurrency history. The Coinbase IPO was seen as the tipping point of the sector, a moment when cryptocurrencies will finally find their well-deserved place within the financial industry. Interest was high, and when Coinbase (COIN) began trading on the Nasdaq on April 14, 2021, the […]

26 May, 2021
Bitcoin,Cryptocurrency,Social Media

Bitcoin Drops by Over 30% to $30,000 After Another of Elon Musk’s Tweets

Tesla’s CEO and among the top three richest people in the world, Elon Musk, has yet again sent Bitcoin and other altcoins on a wild ride that saw the markets bleed after massive sell-offs. In a flurry of tweets that begun on Sunday, Elon seems to have implied that Tesla would liquidate its Bitcoin holdings. […]

20 May, 2021
Blockchain,Investment,Technology

Tune In To The 4th Edition of the AIBC Pitch

On the 25th of May 2021, Dubai will once again play host to the much-anticipated Draper-Aladdin AIBC Startup Pitch. 100 companies operating in the exciting fields of AI, Blockchain, Quantum Tech, FinTech, Big Data and IoT will be showcasing their ideas to investors and other stakeholders. Up to $500,000 can be won by any single […]

16 May, 2021
Cryptocurrency,DogeCoin,eToro

Dogecoin Now Available At eToro

eToro, the world’s leading social trading and investment platform, has recently announced that it will be adding Dogecoin to its list of supported cryptocurrencies. This means that you can buy DOGE from any supported eToro county, including the US. What was originally dubbed a joke coin is quickly gaining popularity around the world. Earlier this […]

14 May, 2021
Bitcoin,CoinMarketCap,Ethereum

Cryptocurrency Market Cap Jumps Past $2 Trillion

Cryptocurrencies continue to make headline news around the world as the total market cap surpassed $2 trillion on Monday. Supported by increased interest from institutional investors, celebrities, and retail investors, digital coins are now worth more than Apple Inc. Bitcoin has, once again, played a major role in the sector’s market cap. The world’s first […]

6 April, 2021