Australia's Oldest Crypto Exchange Joins Growing Roster of Kraken Acquisitions

Jan 14, 2020😶Neutral

In a recent development, Kraken announced its acquisition of Bit Trade, an Australia-based crypto exchange formed in 2013, in a Jan. 14 press release on Kraken‘s blog.

A representative said:

“In the short term, Bit Trade will continue under its current brand and operate business as usual. As part of the acquisition we are pleased to welcome the Bit Trade team led by Jonathon Miller who will be Managing Director for Kraken in Australia.”

Kraken plans to host trading liquidity for Australia’s dollar (AUD) and cater to retail and institutional players, the release added. Additionally, the acquisition adds to Kraken‘s over-the-counter (OTC) trading capabilities.

Australian users can now also access Kraken‘s sizable OTC market as a result of the Bit Trade purchase.

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