Kraken Takes Over Australian Crypto Platform Bit Trade

Posted on Jan 15, 2020

Digital asset exchange Kraken has announced its takeover of Bit Trade, deemed to be Australia’s longest-running crypto service company. The exact cost associated with the finalised deal has not been released, however it is known that the entire team from Australia will join the San Francisco-based company. Kraken have stated that the company will focus on combining their services to become the “premier crypto service in Australia with the best AUD liquidity, trading experience, and support for both institutional and retail clients”. As one of the most prominent crypto companies in the U.S., Kraken has been on a quest to acquire crypto businesses over recent years, with its latest takeover strengthening its OTC trading operation.