US based Kraken plans to cease their services in Japan 6441
Akriti Mathur
Apr 17, 2018 at 11:31 AM

Kraken, one of the popular Bitcoin exchanges has made an important announcement. According to sources, they are going to end their trading services for Japanese residents. 

The exchange had a thorough research about the cost of executing their business in Japan. The cost analysis was not feasible to them. It is being said that they might take up a venture in Japan in future. In addition, they will terminate their operations by June end. 

Kraken stated, “Suspending services for Japan residents will allow us to better focus on our resources to improve in other geographical areas.” Further he added, “This is a localized suspension of service that only affects residents of Japan and does not impact services for Japanese citizens or businesses domiciled outside of Japan.”

Kraken cryptocurrency exchange is headquartered in San Francisco. It is one of the world’s longest cryptocurrency exchanges. The CEO and Co-founder of Kraken Jesse Powell has quoted, “Our mission is to provide an exceptional bitcoin exchange experience.” The company was founded on July 28, 2011. It has been declared as number 1 euro exchange by volume. It has also been named amongst the most promising start ups that work on Blockchain. 

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