Japan’s Brokerage Company Money Partners Group Invests in Kraken

News and Analysis

One of the world’s leading bitcoin exchanges Kraken has announced it raised significant funds during Series B investment round from a Japan-based currency brokerage company Money Partners Group.

Parties did not disclose details of the deal, so the exact amount of the investment is unknown.

Kraken’s CEO Jesse Powell said in a statement:

“This investment from Money Partners Group is more validation that our long-game approach to the digital asset exchange business has been the right strategy. Established players in financial services want a partner that knows what they’re doing and delivers — that’s why they choose Kraken. We are pleased to have such a visionary and experienced partner in our business. 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.”

Tokyo-headquartered Money Partners Group is one of Japan’s biggest currency brokerage companies registered in section one of Tokyo Stock Exchange. The company’s market cap currently stands at 29 billion yens (over $260 million). The company’s clientele includes in excess of 270,000 users, all of which will have an option of trading bitcoin, remitting cryptocurrencies, and trading blockchain-based derivatives now that the company had struck a deal with Kraken. Additionally, the agreement’s provisions imply further international penetration of the US-based exchange.

This January, Kraken has announced it acquired New York-based exchange Coinsetter and Canada-based platform CAVirtex. Back then, Kraken claimed the merger one of the biggest in bitcoin’s history. A short while later, a new multimillion deal was announced – this time it involved SBI Investment, a major venture investment company that had secured the California-based exchange’s second investment round.

Apart from Bitcoin, Kraken offers trading operations for other cryptocurrencies, including Ether, as well as fiat currencies, being USD, CAD, GBP, and JPY.

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