Japanese financial giant invests in Bitcoin exchange Kraken to launch second round of financing

    Japanese venture capital firm SBI Investment has launched a second round of funding in bitcoin exchange Kraken.
Although the terms of the deal have not been announced, Kraken said it has agreed with SBI on a “multi-million dollar” investment. Kraken did not disclose when the second round of funding will be completed.
“This is a great first step toward closing our second round of funding, which will ultimately expand our business around the world,” said Krakend CEO Jesse Powell.
SBI Investment is the venture capital arm of SBI Holdings, a web-based financial group that reported revenues of about $2 billion in 2015. Shortly after Kraken revealed it had acquired New York-based bitcoin exchange Coinsetter, SBI Investment announced it would partner with US fintech company Ripple to establish a new company focused on the Asian market. Kraken did not disclose the amount of money spent on the acquisition. Kraken closed its first round of funding in March 2014, raising a total of $5 million. The round was led by Hummingbird Ventures, a start-up venture capital firm.