Kraken buys out Cryptowatch, releases new trading platform

San Francisco-based worldwide digital asset exchange Kraken announced in a press release it sent to CoinReport the procurement of charting and trading platform Cryptowatch and launch of a new trading platform.

Kraken is the world’s largest global bitcoin exchange in euro volume and liquidity. In addition to bitcoin and 10 other digital assets, including ether, Kraken’s users also trade in U.S. dollars, British pounds, Canadian dollars and Japanese yen.

Cryptowatch is used by thousands of traders to chart more than 150 markets in real-time and trade up to 22 digital assets via a very friendly user interface, said the Kraken release. The charting and trading platform, it added, has witnessed swift progress in the past two years, swelling its number of active users by 700%.

Cryptowatch founder Artur Sapek is joining Kraken to lead the development of Kraken’s interface as well as continue developing Cryptowatch.

“In just 2 years Cryptowatch grew into one of the pillars of the digital asset trading community,” Sapek said on the occasion. “Teaming up with an exchange was the natural next step, and Kraken was my first choice. The Kraken team has built a very mature and reliable exchange, and I look forward to working with them to deliver the best trading software in the industry.”

The new platform Kraken launched is the result of the exchange leveraging Cryptowatch in order to enable its clients immediately benefit from the buyout. The upgraded trading interface is available at https://trade.kraken.com. Instructions on how to get started on the new platform are available at http://blog.kraken.com/post/157561097377.

Kraken CEO Jesse Powell commented, “I’m thrilled to welcome the Cryptowatch trading platform and its founder into the Kraken family. As the industry’s leading charting tool for traders, we plan to devote more resources and talent to further enhance its offering. And we’ve purposed the technology to provide a great new charting and trading platform to Kraken clients as the first step in improving our own interface. It’s a great start to 2017 and I can’t wait to share what else we’ve got in the pipeline.”

Cryptowatch is the latest in an extensive series of breakthrough M&A deals that Kraken has leveraged over the past year to expand its client-base worldwide, add new services and bring talented members to its team.

Kraken previously acquired three major bitcoin exchanges – Coinsetter, Cavirtex and CleverCoin – and award-winning wallet funding service Glidera, which will soon be rebranded as Kraken Direct.

Image courtesy of Kraken