Kraken buys out digital currency data portal Cryptowatch

Cryptocurrency exchange Kraken has announced the acquisition of market portal Cryptowatch, a site that provides real-time market information and trading services.

The deal has been revealed to be an acqui-hire, with the exchange retaining Cryptowatch founder Artur Sapek to further develop the toolkit. As part of the news, Kraken has also debuted a new trading interface.

Kraken CEO Jesse Powell said of the news: “As the industry’s leading charting tool for traders, we plan to devote more resources and talent to further enhance its offering. And we’ve purposed the technology to provide a great new charting and trading platform to Kraken clients as the first step in improving our own interface.”

Cryptowatch has reportedly seen a rapid rise in its active user base, experiencing 700% growth in the past two years, and the Kraken deal was the “natural next step” in maintaining the site’s status in the digital asset trading community, Sapek remarked.

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Source: Kraken Buys Out Digital Currency Data Portal Cryptowatch – CoinDesk