A venture capital firm SBI investment has agreed to lead the series B of funding for the bitcoin exchange Kraken. The exact terms were not disclosed.

The news came after unprecedented Kraken's deal earlier this month that resulted in the acquisition of two bitcoin exchanges, Coinsetter and Cavirtex, by the company. In March 2014 Kraken raised $5 million in the series A financing round. The investment was led by Hummingbird Ventures.

SBI Investment is part of SBI Holdings, a financial conglomerate with operating income of around $570 million.

“We knew that we wanted to invest in Bitcoin and the blockchain. We wanted a company that would be a wise strategic investment,” SBI Holdings CEO Yoshitaka Kitao said.

The investment is apparently a part of SBI's bigger programme revealing their interest in the blockchain technology and the digital currency bitcoin.

“Kraken has been a leading global bitcoin exchange for years. They have grown tremendously during that time while building a strong reputation as one of the most innovative, secure, compliant, and reliable companies in this emerging financial services area. Kraken was the clear choice,” added Kitao.

Last week SBI Holdings teamed up with Ripple, a blockchain-based startup creating together a new company SBI Ripple Asia.

In August 2015 Kraken left New York because of the introduction of BitLicense in the state and has been concentrating on European markets since then. This January the company officially began its expansion into the North American market. Kraken's ultimate aim is to scale the business worldwide, according to Jesse Powell, the company's CEO.

Sonya Belova