Crypto Exchange Kraken has acquired assets and technology from Capitalise.ai, an Israel-based startup that has built a natural language no-code platform to automate trading strategies across multiple asset classes, the company said in a press release Wednesday.
Keefe, Bruyette & Woods and Stifel Company served as financial advisors to Capitalise.ai. Financial details for the acquisition have not been revealed.
Founded in 2015, Capitalise.ai has developed a system that allows users to turn everyday texts into actionable trading strategies.
The company’s technology supports real-time and historical data analytics across stocks, crypto, Forex, futures and options. The tool is used in exchange for a variety of traditional financial brokers.
Kraken said it will begin rolling out Capitalise.ai functionality on the Kraken Pro platform later this year. The move is designed to lower technical barriers to advanced trading, providing users with the ability to design, backtest and automate strategies without writing code.
“With this acquisition, Kraken Pro clients offer a powerful new way to respond to ideas in real time. This will test, optimize and execute bespoke strategies with unprecedented speed and confidence.”
Co-founders Amir Shiovich and Shahar Rabin will join Kraken’s Pro business unit as part of the transaction, along with key engineering staff.
read more: Crypto Exchange Kraken revenue fell 6.8% year-on-year to $79.7 million in the second quarter
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