Kraken, the world’s largest bitcoin exchange in euro volume, has announced full acquisition of two oldest and most prominent bitcoin exchanges worldwide: New-York based Coinsetter and Canadian first bitcoin exchange Cavirtex.

Through these acquisitions San Francisco-based Kraken officially begins expansion into the North American market, as previously the exchange mostly concentrated on developing markets in Europe.

Since all brands of Coinsetter and Cavirtex are to be absorbed, client accounts of both exchanges are announced to be automatically transferred to Kraken’s platform on 26 January 2016. After the transfer holders of the accounts will be redirected to www.kraken.com to log-in and start trading as normal. To celebrate the deal, Kraken offers its American and Canadian clients free deposits on the bitcoin exchange up to 1 March 2016.

To allow convenient and low-fee deposit and withdrawals for American clients, Kraken has established a partnership with SynapsePay, a US payment provider. As for Canadian customers, they are able to manage their funds via Vogogo – the leading Canadian payment processor – with whom it partnered in June 2015.

As Kraken CEO Jesse Powell told in the press-release,

“The acquisition of Coinsetter and Cavirtex marks the beginning of a new era for Kraken. The consolidation of these three veteran giants is the largest exchange deal to date. Combined, we represent over thirteen years of bitcoin exchange experience in an industry that is only seven years old.”

Kraken is considered to be one of the world’s most secure and trusted bitcoin exchanges, the first to pass a cryptographically verifiable proof-of-reserves audit.

Anna Lavinskaya