The Dutch Bitcoin Exchange Clevercoin Brought By The Kraken
Kraken, a Bitcoin exchange based in San Francisco has acquired the CleverCoin, which is a Dutch Bitcoin exchange. However, the price at which it is acquired is kept secret.
The Dutch Bitcoin exchange was established in 2013 and aims to assist the fintech companies in Europe, by offering Bitcoin services through a platform. This platform makes the trading of Bitcoin accessible for everyone.
CleverCoin offers payment options via SEPT, Sofort, Bancontact, iDEAL and Giropay. These options are fully registered with under the law of the Dutch constitution and provides a platform having multiple security layers. These layers are continuously monitored for any nefarious activities.
The CleverCoin brand will merge into the global umbrella of Kraken under this deal while offering their existing customers a seamless access to the features of the Kraken suite. On 29 June, all the clients of the CleverCoin will be transferred to the Kraken’s platform automatically. The CTO and co-founder of the CleverCoin said in a statement that this deal will move CleverCoin forward by increasing its features.
Release the Kraken
The acquisition of the CleverCoin by Kraken followed by the number of other acquisitions such as Cavirtex and Coinsetter. With the help of this new acquisition, the Kraken will increase its business in the Europe with Euro trading pairs. The average weekly volume is already increasing in these pairs since the third week of April. There is a growth of more than 4 times in the Ether-Euro and Bitcoin-Euro pairs. In the same period of time, the pair of Ether-Bitcoin has seen an increase of 900 percent.
The digital currency has matured in short span of time. The Chief Executive Officer of Kraken states that our M&A plans have been accelerated by this news across the industry. He further added that the regulatory picture is becoming clear and prices are rising & the clients across the world are joining our platform in numbers.