Two weeks ago, the global bitcoin exchange Kraken announced a multi-million dollar agreement with the Japanese powerhouse SBI Investment to invest in and lead the Series B round of financing in the firm. The news came after Kraken revealing only in January that they were taking over North American exchanges Coinsetter and Cavirtex.
Now we bring you an interview with Jesse Powell, the CEO of Kraken, explaining what he intends to do with the money, how he looks at the major markets around the world and the effects of the contentious block size debate.
Why did you decide to acquire Coinsetter and Cavirtex?
The acquisitions give us a head start in our entry to the North American markets. Coinsetter and Cavirtex both have good brand reputations and a clean compliance record.
What are the main differences that you see between the major markets?
In the US and EU markets, I think we see more actual use of bitcoin beyond speculation. My impression of the Chinese and Japanese markets is that uses outside of a speculative vehicle are limited.
The Philippines, however, is seeing a tremendous amount of remittance activity over Bitcoin.
Should we expect to see further consolidation in the exchange space?
I do expect we’ll