Big News in the Bitcoin World
In a move that’s reverberating throughout the cryptocurrency landscape, Kraken, one of the world’s largest Bitcoin exchanges, announced today its acquisition of two iconic exchanges: Coinsetter and Cavirtex. It’s like a crypto soap opera unfolding, only this time, the plot twist is about mergers and acquisitions!
What This Means for Kraken
As a result of this acquisition, Kraken is aimed at solidifying their presence in North America. This merger isn’t just a headline; it’s a marriage of three established players in the Bitcoin exchange arena. As stated in their official press release, the absorption of these two brands means that all client accounts from Coinsetter and Cavirtex will automatically transition to Kraken’s user-friendly platform starting January 26, 2016.
The Legends of the Exchange Game
Let’s roll back the clock a bit. Coinsetter, born in 2012, became a national powerhouse in the U.S. crypto scene. Meanwhile, Cavirtex, standing proud since 2011, held the title of Canada’s oldest Bitcoin exchange. Together, they bring over 13 years of collective experience to a market that’s still getting its grown-up legs. Can you believe that? An industry younger than many of our favorite video games is now home to veteran exchanges!
CEO Jesse Powell: The Visionary Behind the Expansion
Jesse Powell, the man steering the Kraken ship, commented on this monumental acquisition: “The consolidation of these three veteran giants marks the largest exchange deal to date.” That’s a powerful claim, and if you ask me, he’s probably bubbling with excitement about the prospects this creates for 2016 and beyond. This isn’t just about buying out competition; it’s about building a future where Kraken can cater to a wider audience and innovative offerings!
Deposits and Withdrawals: A Smooth Ride Ahead
But wait, there’s more! On January 19, 2016, Kraken revealed a partnership with American payment provider SynapsePay. This collaboration is designed to facilitate speedy, low-fee domestic USD deposits and withdrawals for U.S. users. And if that wasn’t enough to convince you that Kraken is serious about its North American strategy, Canadian clients will also be able to enjoy Kraken’s services via the local payment platform Vogogo.
Wrapping It Up
It’s not all work and no play, though! From now until March 1, 2016, Kraken has rolled out a promotion allowing all clients from the U.S. and Canada to make deposits for free. Yep, you heard it right—free deposits! That’s like finding money in your jeans pocket; it’s an offer you don’t want to miss.
In the wild west of cryptocurrency trading, Kraken is proving they can not only play the game but also reshape the playing field. With big plans on the horizon, the crypto community will be watching closely to see what kind of innovations Kraken unleashes next.
