Kraken Acquires Coinsetter and Cavirtex to Boost US Market Share

The three exchanges combine for more than thirteen years of bitcoin exchange experience in an industry that is only seven years old. Kraken became the dominant euro-denominated trading venue and was the first exchange to feed its market data through the Bloomberg Terminal. The exchange earned recognition as one of the industry's most innovative platforms.

CEO Jesse Powell outlined the strategic significance of the move. "The consolidation of these three veteran giants is the largest exchange deal to date. Combined, we represent over thirteen years of bitcoin exchange experience in an industry that is only seven years old. Kraken has big, exciting plans for 2016. This year we will fully leverage what we've built as the world's most trusted and secure bitcoin exchange. This is the year that we make long strides to capture key markets and crank up the volume. This is the year of the Kraken."

Jaron Lukasiewicz, chief executive of Coinsetter, outlined what the deal means for customers. "I'm excited what our acquisition by Kraken means for Coinsetter and Cavirtex customers, who will all benefit from Kraken's leading platform, global team and unparalleled customer service. For years, the teams at Coinsetter and Cavirtex have worked closely with traders, bitcoin companies and investors to advance the burgeoning bitcoin space in North America. We are confident that Kraken is the right world-class company with the resources, vision and drive to successfully carry our torch far into the future."

Coinsetter and Cavirtex customers will transfer to the Kraken platform on January 26 without needing to take any action. Until March 1, North American customers can deposit for free.