Kraken Boosts Institutional Offerings With Acquisition of Dan Held's Interchange

Cryptocurrency exchange Kraken has acquired Interchange, a startup offering a way for institutional investors to better manage their portfolios.

AccessTimeIconJul 31, 2019 at 12:38 p.m. UTC
Updated Sep 13, 2021 at 11:15 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

Cryptocurrency exchange Kraken has just acquired a firm offering a way for institutional investors such as hedge funds and asset managers to better manage their portfolios.

The exchange announced Tuesday that it has bought Interchange, an accounting, reconciliation and reporting service provider that it says offers an "institutional-grade" service.

notably boasts as co-founders Dan Held, formerly director of product at wallet (and now crypto exchange) provider Blockchain and co­-founder of ZeroBlock, and Clark Moody, founder of Blockchain acquired bitcoin trading platform RTBTC.

Kraken's new acquisition aims to provide institutional investors better tools to monitor and report their crypto portfolios.

According to the press release, Interchange is already providing services for at least 60 institutions, including digital assets accounting and administration company MG Stover.

Kraken says the added service will compliment its multi-exchange charting, trading and portfolio-tracking platform Cryptowatch, allowing it to offer products including historical and current data, advanced charting, multi-exchange trade executions, research and insights, critical accounting and portfolio reconciliation tools, and crypto indices.

Kraken CEO Jesse Powell said:

“I couldn’t be more excited to welcome Dan, Clark and the Interchange team to Kraken. What’s great about Interchange is that it makes accounting, trade reconciliation and reporting so much easier for institutions and individuals trading on Kraken, so our clients can stay focused on tapping the tremendous value that cryptocurrency markets offer.”

The news marks the latest acquisition from Kraken, which has been on something of a spending spree this year.

Just this month, it snapped up, a software tool providing prices and market data from over 50 exchanges.

More notably, in February, Kraken brought crypto futures exchange Crypto Facilities (now Kraken Futures) into its fold via a deal worth at least $100 million.

Jesse Powell at Consensus 2018 image via CoinDesk archives


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.