The US Bitcoin exchange Kraken acquired a startup Interchange, which allows institutional investors to more effectively manage their cryptocurrency portfolios.
Kraken acquires Interchange, creating the first full-service crypto trading platform: https://t.co/TAVd2Cp50H
– Kraken Exchange (@krakenfx) July 31, 2019
Thus, the Interchange toolkit allows cryptocurrency hedge funds, asset managers and other large investors to keep accounts, as well as reconcile financial statements for completed transactions.
The founders of the startup are entrepreneurs Dan Held, the former director of Blockchain, and Clark Moody, the creator of the RTBTC trading platform. Now they will be part of the top management of Kraken.
Representatives of the exchange claim that with the purchase of the Interchange, the platform was the first in the world to provide all the services necessary for trading and preparing financial statements.
Note that at the time of the acquisition, Interchange already had over 60 institutional clients, including hedge funds.
Recall that in the beginning of 2017, Kraken acquired a service for monitoring cryptocurrency prices and the state of the Cryptowatch market.
In early 2019, the exchange bought Crypto Facilities for trading cryptocurrency derivatives, after which in just one month trading volume on it grew by 500%.
This summer, the stock exchange has acquired a startup Cryptofinance.ai, which collects market data and blockchain analytics from Google spreadsheets.
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