Kraken, one of the more prominent companies and cryptocurrency exchanges in the space, has recently acquired Bit Trade, “Australia’s Longest Running Digital Currency Exchange,” according to Bit Trade’s website.
This news was revealed to us via a blog post on Kraken’s website. According to the post, Kraken will now focus on the following:
“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, which acquired Circle Trade, one of the most recognized OTC desks in crypto last month.”
Bit Trade came to be in around 2013, and this acquisition will now ensure that the two can offer additional features:
- A multi-exchange aggregator that combines several trading platforms into a single interface to ensure best price and execution for clients
- One of the largest OTC desks in Australia, where clients can trade in large volumes without moving markets.
According to the post, the entirety of Bit Trade will join up with Kraken. From there, Jonathon Miller, the former leader of the Bit Trade team, will now become the Managing Director for Kraken in the country of Australia.