[2016-02-02] Kraken gets multi-million investment from Japan

[milaliss]

Kraken gets multi-million investment from Japan
A venture capital firm SBI investment has agreed to lead the series B of funding for the bitcoin exchange Kraken. The exact terms were not disclosed.
http://www.coinfox.info/news/law-and-order/4675-kraken-gets-multi-million-investment-from-a-japanese-firm

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[Lethn]

Fantastic! This should mean if I get an income in Bitcoin in regular chunks I'll be able to convert it to yen easily if necessary

[Zudalar]

Fantastic! This should mean if I get an income in Bitcoin in regular chunks I'll be able to convert it to yen easily if necessary

Why do yo say so? The investment is from Japan, but it does not mean the customers will pour Japanese money into the exchange to buy bitcoin.

[Lethn]

It would be weird if we wouldn't see some kind of influx from Japan over this, the thing is Kraken took over mt.gox so maybe they're looking to move into that market a bit.

[Kprawn]

They are developing their own crypto currency called "Mufg Coin" so they need a exchange that would be able to handle the load, if they go this route.

It will be interesting to see how they go about this... the idea behind that would be to make remittance easier... Kraken might just open a door for that

venture. Let's just wait and see what will happen.... this is my observation on this.