Kraken’s Bunq Bet and the Global Race for Crypto Users

Crypto Exchange Kraken is ready to hit some rather narrow deadlines, as the exchange acts on increasing its brand and market share with a new business solution called Kraken Embraded, according to the head of a payment company and Blockchain Brett McLain.

In an interview with DecipherMcLain said Kraken’s Recent connection With BUNQ, Neobank based in the Netherlands, it was the result of a Last-minute movement of a draft that the company could expand its presence through relations with similar companies, Fintechs and traditional banks.

Bunq planned to go with another cryptocurrency company into his platform, but turned to Kraken at “11.”, McLain said. The service started just a few weeks after Bunq’s team agreed to it orally, with the necessary limited amounts of engineering, he added.

“In order for classic neoban to cross from the crypto exposure […] Be able to offer […]. A 400 plus property that is fast in Europe, which is hardly regulated by the market, it changes the game quite a bit, “he claimed.” This is what we bring to the table. “

The solution can also help companies to save at engineering, regulatory and legal costs, Mclain said. At the same time, installation allows companies in Europe to offer their customers of cryptocurrency trading without permission in accordance with EU regulation regulating Crypto Property, or Clearregime.

Although Kraken is a face stiff competition From like Coinbase -ai Binance in the United States abroad, the ability to exchange the new users to attract new customers could potentially put it on more evenly, such as Kraken allegedly considers Initial public offer this year.

For a crypto company, a choice between Kraken and Coinbase could wear a new weight because Coinbase starts UA Recently detected data violation. Executive Director Brian Armstrong said this week that some of the exchange agents for exchange agents were bribed, discovering sensitive user information, including names, addresses and partial bank information for less than 1% of customers.

Coinbase is in a value papers and exchange in which Cyber ​​-finally could cost an exchange of up to $ 400 million to remove. Most experts, however, doesn’t see An incident as an event that could eliminate the growth of exchange. And Kraken has previously experienced security questions including beetle Last year, this allowed the user “artificial inflating of balance”.

Neobobs and financial technology companies are accustomed to developing features quickly, while institutions usually take their time, McLain said. However, under US President Donald Trump, the crypto industry expects an increase in interest from Wall Street, because legislative initiatives and regulators seek to clarify industrial rules in the years to come.

With 17 million users across Europe, Bunq’s decision to touch Kraken can expand the Exchange user Base far more than 13 million people who “believe” Kraken around the world. Kraken expects to drop more companies this year, he said, including potentially in the US, Canada, Australia and the UK.

Coinbase offers companies similar to the KRIPTO-AS-A-service or CAAS, a solution that allows them to rely on markets and exchange infrastructure. Coinbase announced on Friday that the webull’s online trading platform would use its “lead CAAS platform”, according to a blog blog.

Edited by James Rubin