Kraken Boosts Institutional Offerings With Acquisition of Dan Held’s Interchange

Cryptocurrency exchange Kraken has just obtained a firm providing a way for institutional traders these kinds of as hedge resources and asset professionals to better manage their portfolios.

The exchange announced Tuesday that it has bought Interchange, an accounting, reconciliation and reporting support company that it claims delivers an “institutional-grade” support.

Interchange notably boasts as co-founders Dan Held, previously director of products at wallet (and now crypto exchange) company Blockchain and co­-founder of ZeroBlock, and Clark Moody, founder of Blockchain obtained bitcoin trading system RTBTC.

Kraken’s new acquisition aims to present institutional traders better resources to observe and report their crypto portfolios.

According to the push release, Interchange is previously furnishing products and services for at least 60 establishments, such as digital belongings accounting and administration company MG Stover.

Kraken claims the additional support will compliment its multi-exchange charting, trading and portfolio-tracking platform Cryptowatch, permitting it to offer products such as historical and existing details, advanced charting, multi-exchange trade executions, investigation and insights, important accounting and portfolio reconciliation resources, and crypto indices.

Kraken CEO Jesse Powell reported:

“I couldn’t be extra thrilled to welcome Dan, Clark and the Interchange workforce to Kraken. What’s good about Interchange is that it would make accounting, trade reconciliation and reporting so significantly a lot easier for establishments and men and women trading on Kraken, so our consumers can keep targeted on tapping the large worth that cryptocurrency markets give.”

The information marks the most current acquisition from Kraken, which has been on anything of a expending spree this calendar year.

Just this month, it snapped up, a program device furnishing selling prices and market place details from around 50 exchanges.

Far more notably, in February, Kraken brought crypto futures exchange Crypto Amenities (now Kraken Futures) into its fold via a deal value at least $100 million.

Jesse Powell at Consensus 2018 graphic via CoinDesk archives