Kraken acquires charting and trading platform Cryptowatch

Announcements | March 6, 2017 By:

Kraken has acquired the charting and trading platform Cryptowatch.

The deal has been revealed to be an acqui-hire, with the exchange retaining Cryptowatch founder Artur Sapek to further develop the toolkit. As part of the news, Kraken has also debuted a new trading interface.

“As the industry’s leading charting tool for traders, we plan to devote more resources and talent to further enhance its offering. And we’ve purposed the technology to provide a great new charting and trading platform to Kraken clients as the first step in improving our own interface,” said Kraken CEO Jesse Powell.

Cryptowatch has reportedly seen a rapid rise in its active user base, experiencing 700% growth in the past two years, and the Kraken deal was the “natural next step” in maintaining the site’s status in the digital asset trading community, Sapek remarked.

In 2016 Kraken acquired three major bitcoin exchanges (Coinsetter, Cavirtex and CleverCoin) as well as the bitcoin wallet funding service Glidera – soon to be rebranded as Kraken Direct.