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Kraken Bitcoin Exchange Opening in Japan in September

Kraken Bitcoin Exchange Opening in Japan in September

The popular Bitcoin exchange site Kraken has always showed great growth and especially after the collapse of Mt Gox they got a massive boost. After the crash, Kraken's user base became 50% larger in just a couple of months and the exchange has managed to stay out of problems, due to Jesse Powell's technological knowledge.

Powell, the founder of Kraken, told to Bloomberg Businessweek that he helped out Mt Gox back from when they started, as the CEO (Mark Karpeles) was not very good with the technical part, but was more focused on the service part of the business. Powell went to Japan to help them recover from a hacking attack and that's when he realized he had to make his own exchange, should it happen that Mt Gox went down.

Now Powell is looking to take over Mt Gox's spot in Japan, wanting to move into the country with his exchange. Powell told Bloomberg that he is very surprised by how open-minded most Japanese politicians are and that it is a great country to build up a cryptocurrency exchange.

While Powell didn't want to give an exact date to the journalist, he did say that the deadline was "sometime next month".