US-based Kraken has acquired Dutch bitcoin exchange CleverCoin for an undisclosed amount.
Incorporated in 2013, CleverCoin is one of the earliest exchanges in Western Europe to focus on compliance, offer leveraged trading, and establish regulated banking collaboration.
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As part of the acquisition, CleverCoin clients will be transferred to Kraken’s platform on 29 June 2016. The acquisition will also see Kraken providing CleverCoin existing customers with access to its suite of features.
Kraken CEO Jesse Powell said: "The acquisition of CleverCoin will empower Kraken with greater liquidity and a significantly expanded customer base in Europe, our flagship market."
CleverCoin chief technology officer and co-founder Karsten Nilsen said: "Kraken is the ideal custodian for CleverCoin going forward. They are, by every measure, the largest bitcoin and digital asset exchange in Europe and our core beliefs are perfectly aligned.
"As of today, CleverCoin clients will have seamless access to all the features and benefits of Kraken’s global brand, including the ability to trade many of the most popular currency pairs, the latest technology, the most advanced security, and faster Single Euro Payments Area (SEPA) transfers."
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