November 18, 2013
Bitcoin has recently started entering the mainstream, and this has necessitated a full featured, professional platform for trading Bitcoin. The beta version of Kraken was released in May 2013. Thereafter it moved out of the beta phase and launched a live trading platform in September 9, 2013.
Kraken, a virtual currency exchange, is the brainchild of Jesse Powell, the CEO of San Francisco-based company Payward. Powell is a founding member of DATA, the self-regulatory organisation created to develop finest practices for the transfer of digital assets. The management team also consists of Michael Gronager (COO), Constance Choi (General Counsel) and Walter Stanish (Founder/Architect). Kraken had raised $260,000 initially in the first round of funding. This was followed by a $3 Mn fund as equity in the second round. The main investor in the second round is Roger Ver.
Kraken has been designed to bring ...