Kraken, one of the world’s most popular crypto exchanges, is headed down under. The fifth biggest exchange in the world by liquidity is making the move by acquiring Bit Trade, one of Australia’s longest running cryptocurrency services.
Bit Trade currently offers Bitcoin, XRP, Ether, Litecoin, Bitcoin Cash and Stellar Lumens currently, but there are hopes the acquisition will lead to additional pairs as Kraken has 32 cryptocurrencies on its books.
Bit Trade was established in 2013 by Ronald M Tucker and is one of the founding members of the Australian Digital Commerce Association, now known as Blockchain Australia.
Kraken’s announcement says it aims to become “the premier crypto service in Australia with the best AUD liquidity, trading experience, and support for both institutional and retail clients”.
“We are incredibly excited at the prospect of helping Kraken grow its presence in APAC and helping service the growing demand globally for institutional-grade cryptocurrency platforms and services,” said Co-founder Jonathon Miller.