Kraken, the popular bitcoin and cryptocurrency exchange company, today announced it has acquired Interchange, a crypto asset portfolio accounting, reconciliation, and reporting solution for businesses.
Interchange automatically captures and normalizes crypto-asset balances, transactions, and trades from hundreds of blockchains, exchanges, and custodians. The tool enables users to monitor a portfolio through real-time dashboards, track the latest position movements between exchanges and wallets, and obtain insight into portfolio exposure, profit/loss, and tax lot detail.
The Interchange team includes co-founders and crypto veterans Dan Held and Clark Moody. In January 2018, the two helped co-found The Picks & Shovels Co., and then began working on Interchange.
In less than a year, the Interchange reports servicing over 60 institutions, including fund administrators and hedge funds.
“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.”
– Jesse Powell, Kraken CEO
Kraken interviewed the Interchange founders following the acquisition, which can be found here.