Kraken Adds Swiss Franc to Its Crypto-Fiat Offerings

This is the sixth fiat currency supported by the exchange.

Crypto exchange Kraken on Thursday announced the addition of Swiss franc to its platform, expanding fiat-based crypto trading services.

Per the official blog, the exchange partnered with Liechtenstein-based Bank Frick, its newest EUR funding partner. With the addition of the new fiat, the exchange now offers trading services against six fiats – US dollar, Canadian dollar, euro, British pound, and Japanese yen being the rest.

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“This latest partnership further promotes our mission of delivering financial freedom by giving clients more choice when it comes to managing their assets,” the exchange stated.

The trading with the new fiat will initiate on Friday, and two digital currencies – Bitcoin and Ethereum – will be listed against it. However, in the future, the California-based exchange has plans to add more trading pairs with the newly added currency.

Detailing the deposit and withdrawal limits, the exchange stated that the minimum limit has been set at 100 CNF while the maximum limit is up to 10,000,000 CHF per transaction.

Expanding services with fiats

Though operational since 2011, the California-headquartered opened fiat deposits and withdrawal services last July, partnering with Etana Custody. The Etana Custody Wallet is directly connected to the Kraken accounts, and traders only need to create and verify their Etana wallet to wire funds from their bank accounts.

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Earlier this year, the exchange also finalized its acquisition of Interchange, a crypto-asset management solutions firm for institutional clients, making it the second successful acquisition of the exchange.

Recently, the crypto exchange also joined the Silvergate Exchange Network (SEN) to enable its clients’ deposit and withdrawal of fiat using Silvergate bank’s account without any fees.

The exchange is also offering futures instruments to its clients, attracting the institutional mass towards the crypto sector.

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