Crypto prices are increasing rapidly and so is investor interest. Kraken raised over $13 million in the crypto exchange’s latest fundraising round.
The funds Kraken raised will go towards the financing of the online investment platform BnkToTheFuture. The $13.5 million were raised from a total of 2264 investors. The money Kraken raised actually surpassed the initial $10.2 goal by quite a lot.
It’s also completely natural for Kraken to have a successful fundraising campaign. After all, the crypto exchange is currently servicing over 4 million clients in almost 200 countries worldwide.
The funds Kraken raised point out that there’s growing investor interest
According to the official data, the campaign’s first day was incredibly successful as $6 million were raised from 300 individual investors.
On the platform itself, Kraken states that it is the only regulated spot and futures crypto exchange with over $85 billion in trading volume from 2018 alone. That gives Kraken an annual growth rate of 387% which is very impressive considering last year was very rough for the crypto market.
Kraken has made several interesting moves focused on security and international expansion since the beginning of the year. On the issue of security, Kraken introduced a mandatory two-factor authentication (2FA) since March. The exchange revealed that Google Authenticator and YubiKey were supported as 2FA implementations.
As for Kraken’s global expansion, the exchange acquired the UK-based crypto exchange and futures provider Crypto Facilities. The company was operational since 2015 and was entirely regulated by the UK’s Financial Conduct Authority. This move secured Kraken a very secure position in the European market. There was no announcement on the negotiated price deal except that deal was completed with 9 figures.
With crypto prices rapidly increasing, Kraken is in a very good position for this year. Currently, the exchange is the 33rd largest in terms of adjusted trading volumes. CoinMarketCap data shows that Kraken’s daily trading volume is currently $326 million.
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Tags:BnkToTheFuturefutures crypto exchangeKraken 2FAKraken expansionKraken funding campaignregulated crypto exchange