Kraken Announces Investment from Money Partners Group in a Series B Funding Round

KrakenKraken revealed that new customer accounts have risen four fold, while trade volumes have encountered a ten-fold increment in bitcoin (XBT)/USD exchanging, 30x expansion in XBT/CAD, 15x expansion in XBT/JPY and five-fold increment in XBT/GBP.
The trade additionally reported a venture from remote trade edge exchanging administration supplier, Money Partners Group, in a Series B financing round. The late declaration takes after an update of understanding, marked by Money Partners Group in March.

Tokyo-based Money Partners Group, recorded on the Tokyo Stock Exchange, as of now has a business sector top of around ¥29 billion yen, or US$260 million. The Group is a holding organization with two entirely possessed auxiliaries; Money Partners Co., Ltd and Money Partners Solutions Co., Ltd. The previous backup participates in remote trade exchanging business, the last in monetary framework advancement business.

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The Group offers administrations in remote trade, securities and Contract for Difference (CFD) exchanging, to its system of more than 270,000 customer accounts. For the budgetary year finished March 2015, the organization produced around ¥5.3 billion in working income, and has all out resources of ¥68.6 billion.

Money Partners Group built up a business cooperation concurrence with Payward, Krakens guardian organization, since July 2015. Kraken affirmed the arrangement with Tuesday’s declaration, including that “Money Partners Group’s venture is proposed to upgrade Kraken’s worldwide nearness.”

Kraken’s arrangement B round of subsidizing started with SBI Investment, the funding auxiliary of SBI Holdings, the world’s first Internet-based money related aggregate. SBI Holdings reported a reminder of comprehension with Payward in January, “to put resources into Payward through its assets,” and also lead the Series B round of financing in Kraken.

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