Kraken acquires crypto-management solution Interchange

Interchange is a joint venture between CoinVantage, an accounting company, and crypto provider Picks & Shovels. The eight-person company features software products that serves over 60 clients, including fund administrators, hedge funds and crypto exchanges.

Interchange, which is US-based, automates reconciliation and reporting process, allowing connections to multiple exchanges to collate data and manage portfolios. The startup claims to offer the first institutional-grade cryptocurrency portfolio management solution for cryptocurrency hedge funds, asset managers and professional traders.

Over the past two years, Kraken has transformed itself into a global crypto powerhouse, establishing its strong presence in both the US and European Bitcoin markets. So far, it has acquired various crypto exchanges including Chicago-based non-custodial service Glidera and Dutch Bitcoin exchange CleverCoin, according to Finance Magnates.