Brokerage is the first Japanese FX firm to invest in blockchain by joining Kraken’s Series B
SAN FRANCISCO, CA – April 12, 2016 – Kraken, one of the world’s largest and most trusted Bitcoin, Ethereum and digital asset exchanges, today announced an investment from Money Partners Group, one of Japan’s leading foreign exchange brokerages, in the Kraken Series B round of financing. Tokyo-based Money Partners Group is listed on the 1st Section of the Tokyo Stock Exchange and holds a current market cap of over ¥29 billion, or over $260 million USD. The terms of the deal were not disclosed. In February, Kraken announced that SBI Investment, a Japanese venture capital group, had made a multi-million dollar investment to lead a Series B round of financing.
One of the largest foreign exchange brokerages in Japan, Money Partners Group offers services in FX, securities trading and CFD to its network of over 270,000 client accounts. Today, Money Partners Group announced the furthering of a business alliance with Kraken to offer bitcoin trading, bitcoin settlement service, and blockchain-based derivative trading to its clients. In addition, Money Partners Group’s investment is intended to enhance Kraken’s global presence.
Money Partners Group President and Representative Director Taizen Okuyama said, “Cryptocurrency and blockchain technology will bring about a future in which digital and digitized assets are commonplace. Money Partners Group is dedicated to staying on the cutting edge of finance, and bringing new, exciting opportunities to our clients. The movements behind Bitcoin and Ethereum have grown too large to ignore. Kraken is an industry veteran with demonstrated leadership, a professional management team, a strong compliance program and world-class technology. They are the ideal partner for diving into this new ecosystem. We’re excited about what advantages this partnership with Kraken will bring to Money Partners Group and our global clients.”
Commenting on today’s announcement, Kraken CEO Jesse Powell said, “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.”
The investment from Money Partners Group comes as Kraken enjoys extraordinary growth. Since January, when they announced the acquisition of Coinsetter and Cavirtex, two of the oldest and most prominent exchanges in North America, Kraken has experienced a 4x rise in new client accounts (compared to what was seen in Q4 2015).
Already the leading bitcoin/euro exchange globally, Kraken has grown at a breakneck pace since the exchange acquisitions, seeing 10x increase in XBT/USD, 30x increase in XBT/CAD, 15x increase in XBT/JPY and 5x increase in XBT/GBP. As Ethereum prices have skyrocketed, ETH trading has increased by 5x across all supported currencies in the first few months of 2016.
For more information on Kraken, visit www.kraken.com.
Based in San Francisco, Kraken is the world’s largest global bitcoin exchange in euro volume and liquidity. Kraken’s clients also trade US dollars, Canadian dollars, British pounds, Japanese yen and other digital currencies, including ether, on a platform consistently rated the best and most secure bitcoin exchange by independent news media.
Founded in 2011, Kraken was the first bitcoin exchange to have its market data displayed on the Bloomberg Terminal, the first to pass a cryptographically verifiable proof-of-reserves audit, a partner in the first cryptocurrency bank, and one of the first exchanges to offer leveraged bitcoin margin trading. Kraken is trusted by hundreds of thousands of traders, institutions, and authorities across the world, from Toyko’s court-appointed trustee to Germany’s BaFin regulated Fidor Bank. In January 2016, Kraken announced that it was acquiring prominent bitcoin exchanges Coinsetter and Cavirtex to expand into American and Canadian markets.
Kraken is backed by investors including SBI Investment, Money Partners Group, Hummingbird Ventures, Blockchain Capital, and Digital Currency Group, among others.
About Money Partners Group
Listed in the 1st Section of the Tokyo Stock Exchange, Money Partners Group is a leading FX brokerage in Japan. With over 270,000 client accounts and deposits of customer margin in excess of ¥60 billion, Money Partners Group offers advisory and execution services to clients in securities, CFD and foreign exchange. They have achieved the #1 highest order execution rate for the past seven consecutive years. An industry pioneer, Money Partners was founded in 2008 and helped lead the explosion in popularity in Japan for foreign exchange. In 2011, they created a signature low-rate currency exchange service at airports. In 2014, Money Partners began offering a multicurrency solution with a global prepaid MasterCard.
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