Kraken’s Massive M&A Deal: The New Dawn in Bitcoin Exchange

Kraken’s Game-Changing Acquisition

In a monumental move shaking the foundations of the Bitcoin landscape, Kraken has announced today the acquisition of two veteran exchanges: Coinsetter and Cavirtex. This deal not only marks the largest merger and acquisition (M&A) deal in the Bitcoin industry but also cements Kraken’s status as a formidable force entering the North American market.

The Transition Begins

As part of this strategic acquisition, Kraken will fully integrate Coinsetter and Cavirtex into its platform, effectively absorbing their brands. Starting January 26, 2016, clients from both exchanges can look forward to a seamless transition to Kraken’s robust and low-fee trading platform. This means no more tedious account setups—existing users will automatically have their accounts transferred, allowing them to jump back into the action without missing a beat.

Highlights of the Acquired Exchanges

Coinsetter, founded in 2012, quickly made a name for itself as one of America’s major Bitcoin exchanges. On the other hand, Cavirtex holds the title of the oldest Bitcoin exchange in Canada, having launched back in 2011. Both have played crucial roles in their respective markets and now, under the Kraken umbrella, their legacy will continue to evolve.

Words from the Top

Jesse Powell, Kraken’s CEO, has a few words regarding this landmark acquisition:

“The acquisition of Coinsetter and Cavirtex marks the beginning of a new era for Kraken. The consolidation of these three veteran giants represents over thirteen years of bitcoin exchange experience in an industry that is only seven years old. Kraken has big, exciting plans for 2016.”

US and Canadian Users: Brace Yourselves!

Mark your calendars! Just days before this huge transition, Kraken announced a pivotal partnership with American payment provider SynapsePay on January 19, 2016. This collaboration will enable US users to make swift and low-fee USD transactions. Powell noted, “Before this deal, Kraken built out the platform to support the US and Canadian markets. With the acquisitions and expansion into 37 states (including DC), our addressable market has definitely increased.”

Good News for Clients!

To sweeten the deal, all clients from the US and Canada will enjoy free deposits on the Kraken exchange until March 1, 2016. So, why not take advantage of this golden opportunity to explore the exhilarating world of Bitcoin trading without the pesky fees?