What's Happening?
Kraken has acquired Capitalise.ai, a company specializing in natural language trading automation technology. This acquisition will integrate no-code trading capabilities into the Kraken Pro platform, allowing users to design, test, and automate trading strategies without coding. Capitalise.ai's platform, founded in 2015, converts text instructions into executable trading strategies and processes data across various markets, including equities, cryptocurrency, foreign exchange, futures, and options. The financial terms of the acquisition were not disclosed, but a phased rollout of the technology within Kraken Pro is expected later this year.
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Why It's Important?
This acquisition reflects a growing trend in the cryptocurrency industry, where companies are increasingly investing in artificial intelligence and automation technologies to enhance their offerings. By integrating Capitalise.ai's technology, Kraken aims to provide its users with advanced trading tools, potentially attracting more traders to its platform. The move underscores the importance of innovation in maintaining competitiveness in the rapidly evolving crypto market. As more firms adopt AI-driven solutions, the industry could see increased efficiency and accessibility, benefiting both experienced traders and newcomers.
What's Next?
Kraken's integration of Capitalise.ai's technology is expected to begin later this year, with a phased rollout planned for the Kraken Pro platform. This development may prompt other cryptocurrency exchanges to explore similar acquisitions or partnerships to enhance their trading capabilities. The success of this integration could influence the broader adoption of AI-driven trading solutions across the financial sector, potentially reshaping how trading strategies are developed and executed.
