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Bitcoin exchange Kraken acquires Coinsetter and CaVirtex

Bitcoin exchange Kraken acquires Coinsetter and CaVirtex

San Francisco based bitcoin exchange Kraken has just acquired New York based bitcoin exchange Coinsetter, who also owns bitcoin exchange CaVirtex, according to Reuters.

The terms of the acquisition were not disclosed.

“Coinsetter has a lot of synergies with us and it’s pretty clean,” Kraken Chief Executive Officer Jesse Powell said in an interview with Reuters. “There’s a lot of companies that you can do a deal with. But Coinsetter has certainly a cautious approach to the United States and it doesn’t have contingent liabilities hanging around its head and that’s pretty appealing to us.”

Client accounts of both Coinsetter and Cavirtex will be automatically transferred to Kraken’s platform on Jan. 26, the company statement said. Kraken was recently listed as one of the most top rated bitcoin exchanges in our Fall 2015 Bitcoin Exchanges report.

Update: Kraken has posted an announcement on their blog which includes more details.

Tags in this story
Acquisition, Cavirtex, Coinsetter, Kraken
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david@bitcoin.com'
David Shares

David is a writer, researcher, and developer who is passionate about bitcoin and blockchain. He writes for Bitcoin.com, Blockchain.com, and is the founder of Bitcoinx.io (which was acquired by Bitcoin.com). David previously used to write and curate for Myspace and has worked in the fintech and payments space for over 15 years.