News – Emerging and Growth Companies Practice

Kraken in acquisition of Coinsetter and strategic funding round

Cresco assisted San Francisco-based Kraken (Payward, Inc.) in its acquisition of Coinsetter and Cavirtex, two of the oldest and most prominent cryptocurrency exchanges in North America.  Kraken is the world’s largest bitcoin exchange as measured in Euro volume and liquidity.  As a result of the acquisition, Kraken will substantially increase its footprint and add additional USD/bitcoin transaction volume and its exchange will become available in 37 US states, Washington D.C. and Canada.

Concurrently, Cresco has also advised Kraken on securing its most recent multi-million dollar equity investment from the venture arm of strategic investor SBI Group, an international financial services group headquartered in Tokyo.  The funding will enable Kraken to further scale its business on a worldwide scale.

More information on both transactions can be found in TechCrunch, Silicon Valley Business Journal and Reuters.

David Dessers, Pieter Capiau and Wim Van Berendoncks constituted the Cresco deal team for these transactions.

For any further information or questions, please contact Pieter Capiau.

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