US-based crypto exchange Kraken has acquired Bit Trade, Australia’s oldest crypto exchange, Cointelegraph reports.
The acquisition announcement was made via a press release on Kraken’s blog, and as part of the agreement, for the time being, the Bit Trades website will still operate as it currently does. This also includes maintaining the existing staff.
With Bit Trade, Kraken plans to become the go-to crypto trading solution in Australia. It also aims to host trading liquidity for Australia’s dollar (AUD) and cater to retail and institutional players. Moreover, Australian users can now access Kraken’s sizable OTC market as a result of the Bit Trade purchase.
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