Kraken to receive investment from Japan’s Money Partners Group
Global digital asset exchange Kraken announced Tuesday an investment from Japan’s foreign exchange brokerage Money Partners Group, in a press release sent to CoinReport. Money Partners Group is one of the leading foreign exchange brokerage firms in Japan, currently listed on the first section of the Tokyo Stock Exchange. The firm holds a market cap of more than ¥29 billion and services over 270,000 clients.
“Money Partners Group is dedicated to staying on the cutting edge of finance, and bringing new, exciting opportunities to our clients. The movements behind Bitcoin and Ethereum have grown too large to ignore,” said Taizen Okuyama, president and representative director of Money Partners Group. “Kraken is an industry veteran with demonstrated leadership, a professional management team, a strong compliance program and world-class technology. They are the ideal partner for diving into this new ecosystem.”
Money Partners Group currently offers FX, CFD and securities trading services. The partnership with Kraken will allow the firm to offer bitcoin trading, bitcoin settlement services and blockchain-based derivative trading. The investment will also increase Kraken’s global presence.
“Established players in financial services want a partner that knows what they’re doing and delivers — that’s why they choose Kraken,” said Jesse Powell, CEO of Kraken. “Our new relationship with Money Partners Group is a huge win for Bitcoin and Ethereum awareness and adoption around the world. The results we will achieve together will show other financial institutions why they should embrace digital assets and blockchain technologies.”
This announcement follows a string of good news for Kraken. SBI Investment, a subsidiary of SBI Holdings, announced a multi-million dollar investment into Kraken this February. Kraken has also seen a four-fold increase in new client accounts following its acquisition of Coinsetter and Cavirtex.
Image courtesy of Kraken