Kraken Acquires Dutch Bitcoin Exchange CleverCoin

Dutch Bitcoin exchange, CleverCoin has been acquired by the popular San-Francisco Bitcoin exchange, Kraken just months after getting Cavirtex and Coinsetter, also Bitcoin exchanges.

After acquiring two exchanges already, Kraken still seemed to be looking to expand its user base and decided to merge the popular Netherlands-based exchange into Kraken which allows Kraken to expand into Europe. This is one of Kraken’s most popular markets and will certainly improve Kraken’s Euro trading pairs.

Why CleverCoin?

A graduate of Boost VC, Eindhoven-based CleverCoin was founded in 2013 and backed by the Venture Capitalists, Tim and Adam Draper. It was one of the first exchanges in Western Europe to offer regulated banking partnerships, leveraged trading and to focus on compliance.

A spokesperson of Kraken says:

“CleverCoin clients will automatically be transferred to Kraken’s platform on June 29, 2016. Once the transfer is completed, account holders will be directed to to login, update account information, and they can begin trading immediately.”

With thousands of users on its exchange trading Bitcoin, CleverCoin provided some of the latest and fastest SEPA (Single Euro Payments Area) payments compared to other Bitcoin exchanges. With the ex