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

Crypto Exchange Kraken is willing to touch some pretty tight deadlines, because the exchange works to increase its brand and market share through a new business solution that includes Kraken, according to the head of payments and Blockchain Brett Mclain.

In an interview with DecryptMclain said that cracking Recent binding With Bunq, a Neobank established in the Netherlands, the result of a last-minute shift and a blueprint for how the company could expand its presence by relationships with similar companies, fintechs and traditional banks.

Bunq was planning to go with another company to integrate Crypto into his platform, but turned to Kraken on the “11th hour,” McLain said. The service went live only a few weeks after the Bunq team was verbally agreed, with limited amounts of engineering, he added.

“To make a classic Neobank go from not having any crypto exposure […] be able to offer […]. 400-plus assets that are quickly in Europe, which is a heavily regulated market, quite a game change, “he argued.” That’s what we bring to the table. “

The solution can also help companies to save on engineering, legal and legal costs, McLain said. At the same time, EMPBED will enable companies in Europe to offer their customers crypto -trading without a license under the EU markets in Crypto -Activa Regulation, or Micaregime.

Although cracking is confronted fierce competition From the ability of Coinbase and Binance in the US and abroad, the ability of the exchange to attract new users via its embedding offer can possibly put it on a more uniform footing, such as cracking reports regretted A first public offer this year.

For crypto-news ugly companies, the choice between Kraken and Coinbase can bear a new weight, while Coinbase navigates Recently revealed Datalek. CEO Brian Armstrong said this week that some support agents from the Exchange had been bribed, in which sensitive user data was unveiled, including names, addresses and partial bank details for less than 1% of customers.

Coinbase estimated in a Securities and Exchange Commission in the purposes that the cyber attack could cost the exchange of up to $ 400 million to remedy. Most experts, however, Don’t see The incident as an event that could hinder the growth of the exchange. And Kraken has previously experienced security problems, including a bug Last year a user could ‘artificially inflate his balance’.

Neobanks and financial technology companies are used to rolling out functions quickly, while institutions tend to take their time, McLain said. Nevertheless, the Crypto industry among US President Donald Trump expects an increase in interest from Wall Street companies, since legislative initiatives and supervisors want to clarify industrial rules in the coming years.

With 17 million users throughout Europe, the decision of Bunq to tap cracks can expand the user base of the Exchange far beyond 13 million people who ‘trust’ cracking worldwide. This year, Kraken expects to land more companies of that caliber, he said, including possible in the US, Canada, Australia and the UK.

Coinbase offers companies a similar crypto-a-a-service, or caas, solution with which they can lean on the markets and infrastructure of the exchange. On Friday, Coinbase announced that online trading platform Webull will use its ‘leading CAAS platform’, according to a Blog post.

Published by James Rubin