While the terms of the deal were not disclosed, Kraken said that an investment had been agreed upon with SBI. Kraken did not say when it expected the Series B round to be completed.
SBI Investment is the venture capital arm of SBI Holdings, an Internet-based financial group that reported an operating revenue of roughly USD 2 billion in 2015. The company recently announced that it would work with Ripple to establish a new company with a focus on Asian markets.
The announcement comes shortly after Kraken disclosed that it was acquiring New York Bitcoin exchange Coinsetter in an undisclosed deal.
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