Japan’s Money Partners Group joins Kraken Series B investment round
Kraken – one of the world’s largest Bitcoin, Ethereum and digital asset exchanges – has announced an investment from Money Partners Group, one of Japan’s leading foreign exchange brokerages, as part of Kraken’s Series B financing round.
While Kraken didn’t disclose the size or terms of the Money Partners Group investment, we believe it is in the multi-million dollar range.
Tokyo-based Money Partners Group is listed on the Tokyo Stock Exchange and has a current market cap of over ¥29 billion (about USD $260 million).
We reported back in February that SBI Investment, a Japanese venture capital group, had made a multi-million dollar investment to lead Kraken’s Series B round of financing.
The investment from Money Partners Group comes as Kraken is on a serious growth track, which has also seen Kraken consolidate the Bitcoin exchange sector by buying rivals Coinsetter and Cavirtex, two of the oldest and most prominent digital currency exchanges in North America.
Including the acquisitions, Kraken reports that it has experienced a 4x rise in new client accounts over Q4 2015.
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.