Kraken Raises Over $13 Million In Its Latest Fundraising Round

San Francisco-based cryptocurrency alternate Kraken has raised over $13 million in financing on on-line funding platform BnkToTheFuture.

Kraken has raised $13.5 million from 2264 buyers, surpassing its preliminary goal of $10.2 million purportedly because of common demand. The fundraising marketing campaign of Kraken — which has over 4 million shoppers in almost 200 international locations — is essentially the most profitable funding spherical by particular person contributors on BnkToTheFuture.

As beforehand reported, Kraken raised over $6 million within the first day of the marketing campaign from nearly 300 buyers. On BnkToTheFuture, Kraken describes itself as the one regulated spot and futures cryptocurrency alternate with over $85 billion in buying and selling quantity in 2018 alone, making its compound annual development charge of 387%.

In latest months, Kraken has made some developments in safety and worldwide enlargement. In late March, the alternate introduced that two-factor authentication (2FA) is now necessary for the alternate’s customers. The measure is a part of a broader set of adjustments included in its security measures roadmap that spans “into 2020 and past,” however which is presently unavailable to the general public .

Kraken acquired United Kingdom futures supplier Crypto Amenities earlier this yr in a transfer which produced considerably heightened curiosity in its merchandise. Crypto Amenities, which started working in 2015, is absolutely regulated by the U.Ok.’s Monetary Conduct Authority, giving Kraken a significant foothold within the European market.

Kraken is presently the 33rd-largest crypto alternate when it comes to adjusted buying and selling quantity, in keeping with CoinMarketCap. The alternate’s every day buying and selling quantity is round $326.three million, with 74 crypto markets on provide.

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