Kraken Exchange, one of the top 5 exchanges as per CoinGecko has acquired Circle’s OTC Desk as per its blog post. The post reads ” Kraken is acquiring one of the most recognized OverTheCounter desks in crypto, Circle Trade. ” Through this acquisition, Kraken exchange plans to provide support trading partners globally, especially in Asia. Also, it will lead to deeper liquidity of assets and improved advanced tools for traders.
Circle, the Boston-based cryptocurrency firm is one of the earliest players in the digital assets field and its OTC desk was once the most profitable business in the market. Kraken confirmed the sale when reached for comment.