Global bitcoin exchange Kraken has secured a multi-million dollar agreement with SBI Investment, the venture capital arm of SBI holdings, the world’s first internet-based financial conglomerate.
The deal comes less than two weeks after Kraken’s acquisition of Coinsetter and Cavirtex, two of the most prominent exchanges in the U.S. and Canada. With a strong strategic partner like SBI investment, Kraken hopes to reach yet another milestone in 2016.
Over the next few months, the bitcoin firm will focus on scaling its business worldwide, establishing necessary infrastructure and resources to meet the growing demands of emerging blockchain-enabled assets.
“SBI’s investment means a lot to us. We’re proud to have such a strong strategic partner leading our round. It’s a fantastic first step toward completing Series B, which will ultimately enable us to scale our business worldwide. Kraken will be prepared to meet the fast-increasing demands of an emerging ecosystem of blockchain-enabled assets,” said Kraken CEO Jesse Powell.
Since early 2014, Kraken has continued to transform into the world’s most secure and reliable exchanges in the bitcoin industry today. In March 2014, Kraken secured a US$5 million investment in Series A funding round, led by Hummingbird Ventures with participation from Digital Currency Group and Blockchain