Bitcoin Exchange Kraken to Open in Japan Next Month

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Bitcoin Exchange Kraken to Open in Japan Next Month

ForexMinute.com – According to an edited report published at Bloomberg Businessweek, the founder of Bitcoin exchange Kraken, Jesse Powell, is actively planning to expand his business territory to Japan next month.

Amusingly, Powell rose to fame among the Bitcoin community for his crusader-like role in Mt. Gox recovery period. He actively provided his business expertise to the demised Bitcoin exchange, and also did a bit of staff management as well. A month later after his trip to Tokyo, the 33-year old entrepreneur founded Kraken, which became an overnight sensation upon its release in the United States. A huge customer shift from Mt. Gox favored Kraken by notable extent, which eventually doubled its user base within a span of just two months.

In May this year, Powell has hinted in one of his interviews that he is planning to bring Kraken to the Japanese markets as well. He openly praised Japanese politicians for being open-minded, while criticizing the United States at the same time when it comes to using cryptocurrencies. Indeed the man has his issues with the March 2013 guidelines on digital currencies issued by the US Department of the Treasury.

But now, the dream-like words uttered by Powell are hoping to take shape anytime next month. Kraken, which has paved its way for being counted among the most professional and “safe” cryptocurrency exchanges, is likely to add further stars to its uniform upon its launch in Japan. Bitcoin pundits are also predicting Kraken to turn into the world’s biggest Bitcoin exchange, probably at the same position once held by Mt. Gox.

Though, the exchange will also be under huge pressure for developing a definite trust among the Japanese Bitcoin traders. However, Kraken holds a reputable place inside the Bitcoin market for offering 100% cryptographic proof of services, transaction malleability, no trading delays, and dozen other attractive features to its customers. Whether Japan will trust it or not is a matter of time. Till then we can just laud the Kraken’s expansion.

To contact the reporter of the story: Yashu Gola at yashu@forexminute.com

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