Kraken Expands Horizons with Glidera Acquisition, Creating Kraken Direct

The Big Deal: Kraken Meets Glidera

On December 13, 2016, Kraken—San Francisco’s heavyweight Euro-to-Bitcoin exchange—put another feather in its cap by acquiring Glidera, a Chicago-based Bitcoin wallet platform. This acquisition marks Kraken’s fourth bold move in a year full of strategic expansions, including previous purchases like Coinsetter and Cavirtex. Talk about gifting yourself a birthday cake with extra slices!

Glidera’s Unique Offerings

So what makes Glidera tick? It’s the world’s first non-custodial wallet funding service, allowing users to buy and sell Bitcoins while keeping third-party services at arm’s length. This gives users unprecedented control and privacy over their funds. Imagine having a lock on your treasure chest that only you can open—no pesky pirates here!

API and its Advantages

One standout feature is Glidera’s API, which serves as a bridge for wallets and applications wanting to enable Bitcoin funding without the hassle of setting up a new infrastructure. Popular solutions like BitPay’s multi-signature wallet Copay are already on board. It’s like being invited to a potluck where everyone brings just enough dishes to ensure you never leave hungry.

Expanding Kraken’s Reach

With this acquisition, Kraken isn’t just picking up a new toy; they’re expanding Glidera’s services to all compliant U.S. states, though New York remains a notable exception. The Glidera platform will soon be rebranded as Kraken Direct, ushering in support for various currencies including the Euro, Japanese Yen, Canadian Dollar, and Pound Sterling.

“This acquisition rounds out a fantastic year for Kraken,” said Kraken CEO Jesse Powell. “We’ve seen incredible growth throughout 2016.”

A Non-Custodial Playground

The acquisition signifies Kraken’s entrance into the realm of non-custodial asset funding, allowing users to trade fiat-to-Bitcoin without Kraken holding onto their funds. That’s right—no babysitting needed! It positions Kraken to tackle strict regulations in the crypto ecosystem, steering clear of typical exchange headaches.

Words from the Wise

Both parties involved are optimistic about this merger. Dave Ripley, CEO and co-founder of Glidera, highlighted how Kraken’s vision aligns with their goals of creating a robust digital asset ecosystem. Clearly, they see eye to eye on the importance of partnerships in this wild west of digital finance.