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January 20, 2016updated 04 Apr 2017 3:59pm

Kraken buys bitcoin exchanges Coinsetter, Cavirtex

European bitcoin exchange Kraken has acquired bitcoin exchanges NYC-based Coinsetter and Canada-based CaVirtEx to expand into North American markets.

By Verdict Staff

European bitcoin exchange Kraken has acquired bitcoin exchanges NYC-based Coinsetter and Canada-based CaVirtEx to expand into North American markets.

As part of the acquisition, client accounts of both exchanges will be automatically moved to Kraken’s low fee platform on 26 January 2016.

Upon completion of the transfer, all account holders will be directed to www.kraken.com to login, update account information if needed, and can start trading immediately.

As a special offer, all American and Canadian clients on Kraken’s bitcoin exchange will be offered free deposits until 1 March 2015.

Also, Kraken has partnered with American payment provider SynapsePay to enable rapid, low-fee domestic USD deposits and withdrawals to individual and institutional clients in 37 US states and Washington DC.

This partnership will provide Americans access to Kraken’s full suite of advanced exchange services including seamless bitcoin-dollar (XBT/USD) trading.

Additionally, clients in Canada can avail Kraken’s services through Canadian payment platform Vogogo.

Kraken CEO Jesse Powell said: "The consolidation of these three veteran giants is the largest exchange deal to date. Combined, we represent over thirteen years of bitcoin exchange experience in an industry that is only seven years old. Kraken has big, exciting plans for 2016. This is the year that we make long strides to capture key markets and crank up the volume."

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