Kraken secures multimillion-dollar Series B investment from Money Partners Group

Kraken secures multimillion-dollar Series B investment from Money Partners Group

San Francisco based bitcoin exchange Kraken just announced that they have secured a new round of funding from Money Partners Group.

The investment firm is one of Japan’s leading foreign exchange brokerages. Tokyo-based Money Partners Group is listed on the 1st Section of the Tokyo Stock Exchange and holds a current market cap of over ¥29 billion, or over $260 million USD.

The terms of the deal were not disclosed, although Leaprate has reason to believe that the Series B investment was in the multimillion-dollar range. It’s not hard to imagine this given that past investments for Kraken have garnered $5m in 2014 and another more recent multimillion-dollar investment from SBI Investment in February.

Commenting on the announcement, Kraken CEO Jesse Powell said,

“This investment from Money Partners Group is more validation that our long-game approach to the digital asset exchange business has been the right strategy. Established players in financial services want a partner that knows what they’re doing and delivers – that’s why they choose Kraken. We are pleased to have such a visionary and experienced partner in our business. Our new relationship with Money Partners Group is a huge win for Bitcoin and Ethereum awareness and adoption around the world. The results we will achieve together will show other financial institutions why they should embrace digital assets and blockchain technologies.”

Kraken was just recently named one of the top three bitcoin exchanges in our Spring 2016 Top Rated Bitcoin Exchanges report. In January Kraken acquired two popular bitcoin exchanges to help extend their platform and suite of products and services.