Bit Trade

What Bit Trade does

Bit Trade is an Australian-registered private company operating as the local entity of the Kraken crypto exchange brand in Australia, headquartered in Sydney with a stated founding year of 2013 and a headcount of 1-10. It sits within the Payward, Inc. corporate group — the global parent that has operated the Kraken exchange since 2011 and wholly owns Kraken Securities LLC, the FINRA/SIPC-regulated US equities brokerage subsidiary that delivers Kraken Equities.

Bit Trade's technology footprint spans the full Kraken platform: consumer apps (Kraken, Krak), professional surfaces (Kraken Pro, Kraken Desktop), developer surfaces (REST/WebSocket API, Kraken CLI for AI agents), and institutional services (OTC desk, Prime brokerage, qualified crypto custody). The platform covers 600+ crypto pairs and 11,000+ stocks and ETFs, supports up to 10x regulated spot margin in the US, offers tokenized equities via xStocks, and provides staking. Payward Services additionally distributes B2B on/off-ramps and white-label trading infrastructure to token projects and fintech platforms.

The business model is transaction-fee-driven across multiple streams: retail and pro trading fees (spot, margin, perpetual futures) with tiered VIP and Kraken+ subscription pricing, institutional OTC and Prime brokerage fees, staking commission spreads, Krak card/payments transaction fees, and Payward Services licensing/wholesale revenue. Go-to-market is hybrid: product-led growth for retail and developers via self-serve apps and API, enterprise field sales for institutions via dedicated funnels, and an affiliate/referral program for partner distribution. Bit Trade itself is constrained by Australian regulatory developments, including an October 2025 ASIC enforcement action and AML/CTF reforms effective 31 March 2026.

Name

Bit Trade

Legal name

Bit Trade

Website

https://btrade.io

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

11–50 employees

Short description

Bit Trade is the Australian-registered entity operating the Kraken crypto exchange brand in Australia, delivering retail trading, staking, OTC, custody, and payments services under ASIC oversight as part of the Payward, Inc. group.

Ownership category

akta.pro rank

Product category

Cryptocurrency Exchange

NAICS

Securities and Commodity Exchanges (52321)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Spot Crypto Exchanges (Order-Book & Matching Engine) (FSADAAAA)

Keywords

• Cryptocurrency exchange
• Digital asset trading
• Institutional crypto services
• Crypto custody brokerage
• Blockchain trading platform

Headquarters

HQ city

Sydney

HQ country

Australia

HQ region

Oceania

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Retail and Pro Trading Fees: Trading fees on spot, margin, and perpetual futures across Kraken and Kraken Pro, with tiered fees accessed via VIP and Kraken+ subscription tiers.
2. Institutional OTC and Prime Brokerage: Multi-venue liquidity via OTC desk and Prime integrated offerings for asset managers, hedge funds, market makers, and other institutions.
3. Staking Rewards Spread: Earn program allowing customers to grow crypto via staking; Kraken retains a commission on rewards accrued.
4. Kraken+ Subscription: Recurring subscription offering for the consumer Kraken app, providing enhanced access and benefits.
5. Kraken Card / Krak Money App: Spend, send, and grow product via Krak app enabling crypto and cash spending at 80M+ merchants and balance earning.
6. Payward Services / B2B Infrastructure: White-label and infrastructure revenue from Payward Services on/off-ramps and crypto trading infrastructure sold to platforms and token projects.
7. Affiliate Program: Referral/affiliate program paying commissions for referred customers, generating affiliate-driven revenue.

Pricing tiers

Go-to-market motion4 records

Distribution channels7 records

Marketing channels8 records

Core offering

Bit Trade operates the Kraken cryptocurrency exchange in Australia, providing a centralized digital asset trading platform spanning spot, margin, perpetual futures, tokenized equities (xStocks), staking, and traditional US equities via a FINRA/SIPC-regulated brokerage subsidiary. The platform serves both retail consumers through self-serve web/mobile apps and institutional clients via OTC desk, Prime brokerage, qualified custody, and APIs, with B2B infrastructure monetized through Payward Services on/off-ramps and trading infrastructure.

Differentiator

Problem solved

Functional benefit

Brands

• Kraken Pro: Professional trading platform for active traders offering leveraged spot, futures, margin, and API trading (Kraken Pro).
• Krak

Products and services

• Kraken Pro Advanced professional trading platform offering leveraged spot, margin, futures, and tokenized-equities execution across 600+ crypto pairs and 11,000+ stocks and ETFs, available via web, mobile app, and API for active retail and professional traders.
• Kraken Consumer App Consumer-facing investing app for buying and selling crypto and stocks (BTC, ETH, XRP, TSLA, AAPL, etc.), automating recurring buys via DCA, earning APY on assets, and managing staking.
• Krak Money App Global money app enabling users to spend cash and crypto at 80M+ merchants worldwide, earn APY on balances via vaults, and send money globally with no fees.
• Kraken Desktop Desktop trading client providing a supercharged trading experience for active crypto traders with advanced order types and execution.
• Kraken CLI Command-line interface that enables AI agents and developers to trade on global markets, supporting paper-trading DCA simulations and price-watch functions for assets such as ETH, SOL, and BTC.
• Kraken API REST/WebSocket developer API enabling programmatic trading of spot and futures markets, available to retail and institutional clients via the Kraken API center at docs.kraken.com/api.
• Kraken Institutional Institutional platform providing exchange trading (spot and futures via API), OTC multi-venue liquidity, institutional staking rewards, Prime integrated offerings, and qualified crypto custody for asset managers, hedge funds, market makers, governments, corporations, ETP issuers, and wealth managers.
• Kraken 360 for Protocols End-to-end service positioned as the default partner for token projects, supporting protocols across their lifecycle including token launches and protocol investments.
• 10x Spot Margin Trading (US) Leveraged spot-margin trading product offering up to 10x leverage on regulated spot margin trading for eligible US traders via Kraken Pro.
• xStocks Tokenized Equities Tokenized equity product line offering blockchain-based exposure to stocks and ETFs via the xstocks.fi platform, tradable through Kraken Pro.
• Payward Services B2B infrastructure offering easy-to-integrate on/off-ramps and crypto trading infrastructure that token projects, exchanges, and fintech platforms can go live with in weeks.
• Kraken Equities (US) US equity brokerage service delivered via FINRA/SIPC-regulated subsidiary Kraken Securities LLC, allowing Kraken customers to trade US stocks and ETFs such as TSLA and AAPL.

Quantifiable outcome

• $2T+ total transaction volume since 2011
• +2 more outcomes

Named customers4 records

Segments6 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

AI capability3 records

Feature6 records

Partnerships

Five partnerships are on record, tiered flagship, core and minor.

• FIFA (FIFA World Cup 2026)flagshipGTM or Marketing Partner · 1 January 2026Kraken is running a FIFA World Cup 2026 Final trip giveaway: customers who sign up and verify with promo code FWC26 are entered to win. Logo and assets co-branded across the homepage campaign.
• Payward, Inc. (parent entity of Kraken and Kraken Securities LLC)flagshipStrategic or Co-development PartnerPayward, Inc. is the parent operating entity providing underlying technology and infrastructure; wholly owns Kraken Securities LLC, the FINRA/SIPC member that delivers US equity brokerage, and runs Payward Services infrastructure for B2B distribution.
• Kraken Securities LLC (FINRA/SIPC brokerage subsidiary)coreOEM/ Whitelabel/ Licensing PartnerWholly-owned subsidiary of Payward, Inc. providing FINRA/SIPC-regulated US equity brokerage (TSLA, AAPL, etc.) under the Kraken brand; technology supplied by Payward, Inc.
• Forbes (Forbes Advisor)minorGTM or Marketing PartnerForbes Advisor awarded Kraken 'Most popular crypto exchange 2026' and 'Best crypto platform' (2024), with backlinks and co-branded recognition driving PR/earned media.
• Breakout Prop TradingminorStrategic or Co-development PartnerBreakout Prop Trading is linked from the Kraken footer as a related prop-trading offering within the broader Payward ecosystem.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Bybit: Global derivatives-led centralized exchange with spot, margin, perpetual futures, and copy-trading. Closely comparable to Kraken's perpetuals and margin product surface and to the pro/active trader segment.
• OKX: Global centralized exchange with spot, margin, perpetual futures, options, and an institutional offering. Overlaps with Kraken Pro's derivatives range and with the multi-venue OTC/Prime positioning of Kraken Institutional.
• Binance: Global centralized exchange operating spot, margin, perpetual futures, staking, and a large institutional/professional offering. Directly comparable to Kraken Pro's product surface and to the breadth of crypto pairs (600+), with significant overlap in retail and API/CLI trading.
• Crypto.com: Centralized crypto exchange with consumer app, Visa card spend program (comparable to Krak's 80M+ merchant positioning), staking, and an institutional arm. Overlaps with Bit Trade's parent across retail trading, payments, and card-based merchant distribution.
• KuCoin: Global centralized exchange with spot, margin, futures, staking, and a broad altcoin pair list. Comparable in breadth of crypto pairs and in retail-plus-pro positioning to Kraken Pro.
• Bitfinex: Long-standing centralized exchange focused on advanced/pro traders with spot, margin, perpetual futures, and an institutional offering. Comparable to Kraken Pro on liquidity, advanced order types, and a professional trading orientation.
• Coinbase: Largest US-headquartered centralized crypto exchange, offering spot, margin, futures, staking, custody, and an institutional prime brokerage directly comparable to Kraken Institutional and Kraken Securities LLC. Competes with Bit Trade's parent in retail, pro, and institutional segments across the same crypto-asset product set.
• Gemini: US-regulated centralized exchange offering spot trading, staking, custody, and prime services. Comparable to Kraken's regulated US product set (10x spot margin, Kraken Securities LLC) and institutional qualified custody.

Regional players

• Independent Reserve: Australia-based AUSTRAC-registered centralized exchange serving the same retail and SMSF/institutional segments that Bit Trade targets in Australia. The most direct Australian regional peer, subject to the same ASIC oversight and AML/CTF regime.

Emerging players

• Robinhood: US consumer brokerage that has expanded into crypto trading and tokenized products. Comparable in retail investing UX, recurring buys, and the convergence of crypto with traditional equities that the Kraken/Krak stack is pursuing.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• GitHubgithub.com/krakenfx
• LinkedInlinkedin.com/company/krakenfx
• Xx.com/btradeio

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bit Trade