Crypto Exchange Kraken Acquires Australian Crypto Service Provider Bit Trade

Announcements, News | January 16, 2020 By:

Cryptocurrency exchange Kraken has acquired Australia’s longest-running crypto service Bit Trade.

Bit Trade enables fast, simple and secure trading of bitcoin and other cryptocurrencies by tapping into global exchanges and aggregating prices. Since launching in 2013, the firm quickly built a strong reputation for offering intuitive and sophisticated products without compromising security or regulatory compliance.

With the acquisition of Bit Trade, Kraken said that it will focus on being the premier crypto service in Australia. As part of the deal, Kraken will absorb the entire Bit Trade team, led by Jonathon Miller, who will become Managing Director for Kraken in Australia.

The goal is to have the best AUD liquidity, trading experience, and support for both institutional and retail clients. The acquisition also deepens their overall presence in the APAC region, and further bolsters their OTC trading operation, which acquired Circle Trade, one of the most recognized OTC desks in crypto last month.

“Our combined offering now includes: A multi-exchange aggregator that combines several trading platforms into a single interface to ensure best price and execution for clients and one of the largest OTC desks in Australia, where clients can trade in large volumes without moving markets.,” Kraken said in a press release.