Kraken Opens up FX Trading for Crypto Users, Except US Residents
- The FX service allows Kraken users to directly trade between CAD, CHF, EUR, GBP, JPY, and USD

Kraken, one of the world’s longest-operating cryptocurrency platforms, has introduced FX trading to its customer base with the launch of nine new currency pairs. The San Francisco-based platform said their cryptocurrency traders are now able to expand their horizons and begin trading into a $6 trillion market, further diversifying their portfolios and trading options.
Not to be confused with its fiat-crypto offering, the new service allows Kraken users to directly trade between CAD, CHF, EUR, GBP, JPY, and USD. The venue already allows users to trade between Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the networks which are used to authenticate blockchain technology. Cryptocurrencies can be thought of as systems that accept online payments which are denoted as “tokens.” Tokens are represented as internal ledger entries in blockchain technology while the term crypto is used to depict cryptographic methods and encryption algorithms such as public-private key pairs, various hashing functions, and an elliptical curve. Every cryptocurrency transaction that occurs is logged in a web-based ledger with blockchain technology.These then must be approved by a disparate network of individual nodes (computers that maintain a copy of the ledger). For every new block generated, the block must first be authenticated and confirmed ‘approved’ by each node, which makes forging the transactional history of cryptocurrencies nearly impossible. The World’s First CryptoBitcoin became the first blockchain-based cryptocurrency and to this day is still the most demanded cryptocurrency and the most valued. Bitcoin still contributes the majority of the overall cryptocurrency market volume, though several other cryptos have grown in popularity in recent years.Indeed, out of the wake of Bitcoin, iterations of Bitcoin became prevalent which resulted in a multitude of newly created or cloned cryptocurrencies. Contending cryptocurrencies that emerged after Bitcoin’s success is referred to as ‘altcoins’ and they refer to cryptocurrencies such as Bitcoin, Peercoin, Namecoin, Ethereum, Ripple, Stellar, and Dash. Cryptocurrencies promise a wide range of technological innovations that have yet to be structured into being. Simplified payments between two parties without the need for a middle man is one aspect while leveraging blockchain technology to minimize transaction and processing fees for banks is another. Of course, cryptocurrencies have their disadvantages too. This includes issues of tax evasion, money laundering, and other illicit online activities where anonymity is a dire ingredient in solicitous and fraudulent activities. By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the networks which are used to authenticate blockchain technology. Cryptocurrencies can be thought of as systems that accept online payments which are denoted as “tokens.” Tokens are represented as internal ledger entries in blockchain technology while the term crypto is used to depict cryptographic methods and encryption algorithms such as public-private key pairs, various hashing functions, and an elliptical curve. Every cryptocurrency transaction that occurs is logged in a web-based ledger with blockchain technology.These then must be approved by a disparate network of individual nodes (computers that maintain a copy of the ledger). For every new block generated, the block must first be authenticated and confirmed ‘approved’ by each node, which makes forging the transactional history of cryptocurrencies nearly impossible. The World’s First CryptoBitcoin became the first blockchain-based cryptocurrency and to this day is still the most demanded cryptocurrency and the most valued. Bitcoin still contributes the majority of the overall cryptocurrency market volume, though several other cryptos have grown in popularity in recent years.Indeed, out of the wake of Bitcoin, iterations of Bitcoin became prevalent which resulted in a multitude of newly created or cloned cryptocurrencies. Contending cryptocurrencies that emerged after Bitcoin’s success is referred to as ‘altcoins’ and they refer to cryptocurrencies such as Bitcoin, Peercoin, Namecoin, Ethereum, Ripple, Stellar, and Dash. Cryptocurrencies promise a wide range of technological innovations that have yet to be structured into being. Simplified payments between two parties without the need for a middle man is one aspect while leveraging blockchain technology to minimize transaction and processing fees for banks is another. Of course, cryptocurrencies have their disadvantages too. This includes issues of tax evasion, money laundering, and other illicit online activities where anonymity is a dire ingredient in solicitous and fraudulent activities. Read this Term such as Bitcoin, Ethereum, Ripple, and Litecoin against various fiat currencies, namely the US dollar, the Canadian dollar, Euro, British pound and Japanese yen. Most recently, the Swiss franc joined the roster of fiat currencies that Kraken currently supports.
Kraken has recently joined the Silvergate Exchange Network (SEN), developed by crypto-friendly lender Silvergate Bank, to enable its customers to deposit and withdraw US dollars from their bank accounts with no fees.
According to the official press release, the exchange will go live with its FX products tomorrow at approximately 14:30 UTC. The Kraken team further revealed that those residing in the US, however, are barred from trading currencies directly on the platform.
Kraken will support the newly-introduced product with the following pairs: EURCAD, USDCAD, EURCHF, EURGBP, USDCHF, EURJPY, USDJPY, EURUSD, and GBPUSD.
Further trading pairs will be added to the exchange in the future, and Kraken’s stablecoin fee schedule will apply for current instruments, the company said.

Connecting the dots between crypto and FX
While the number of trading platforms is growing, Kraken has recently made infrastructure upgrades to create an ecosystem that integrates both fiat and crypto trading in one platform. Now to stand out from the crowd, Kraken allows traders to set up advanced orders such as stop loss and take profit options through its web-based trading portal.
Several FX veterans were also enticed to join crypto firms by the appeal of working in a fast-growing nascent industry where a background in traditional finance can be a big advantage. Last year, the US arm of Japanese cryptocurrency platform Liquid.com appointed CEO of US-based introducing broker Forest Park FX Justin Hertzberg as its first chief executive officer.
Over the past two years, Kraken has transformed itself into a global crypto powerhouse, establishing its strong presence in both the US and European Bitcoin markets. Once the largest Bitcoin exchange in Europe, Kraken has also been a strong contender in the US market, with around three percent market share. Furthermore, Kraken acquired Circle Trade, the largest OTC desks in crypto markets that handled last year alone over $24 billion in volume.
Kraken, one of the world’s longest-operating cryptocurrency platforms, has introduced FX trading to its customer base with the launch of nine new currency pairs. The San Francisco-based platform said their cryptocurrency traders are now able to expand their horizons and begin trading into a $6 trillion market, further diversifying their portfolios and trading options.
Not to be confused with its fiat-crypto offering, the new service allows Kraken users to directly trade between CAD, CHF, EUR, GBP, JPY, and USD. The venue already allows users to trade between Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the networks which are used to authenticate blockchain technology. Cryptocurrencies can be thought of as systems that accept online payments which are denoted as “tokens.” Tokens are represented as internal ledger entries in blockchain technology while the term crypto is used to depict cryptographic methods and encryption algorithms such as public-private key pairs, various hashing functions, and an elliptical curve. Every cryptocurrency transaction that occurs is logged in a web-based ledger with blockchain technology.These then must be approved by a disparate network of individual nodes (computers that maintain a copy of the ledger). For every new block generated, the block must first be authenticated and confirmed ‘approved’ by each node, which makes forging the transactional history of cryptocurrencies nearly impossible. The World’s First CryptoBitcoin became the first blockchain-based cryptocurrency and to this day is still the most demanded cryptocurrency and the most valued. Bitcoin still contributes the majority of the overall cryptocurrency market volume, though several other cryptos have grown in popularity in recent years.Indeed, out of the wake of Bitcoin, iterations of Bitcoin became prevalent which resulted in a multitude of newly created or cloned cryptocurrencies. Contending cryptocurrencies that emerged after Bitcoin’s success is referred to as ‘altcoins’ and they refer to cryptocurrencies such as Bitcoin, Peercoin, Namecoin, Ethereum, Ripple, Stellar, and Dash. Cryptocurrencies promise a wide range of technological innovations that have yet to be structured into being. Simplified payments between two parties without the need for a middle man is one aspect while leveraging blockchain technology to minimize transaction and processing fees for banks is another. Of course, cryptocurrencies have their disadvantages too. This includes issues of tax evasion, money laundering, and other illicit online activities where anonymity is a dire ingredient in solicitous and fraudulent activities. By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the networks which are used to authenticate blockchain technology. Cryptocurrencies can be thought of as systems that accept online payments which are denoted as “tokens.” Tokens are represented as internal ledger entries in blockchain technology while the term crypto is used to depict cryptographic methods and encryption algorithms such as public-private key pairs, various hashing functions, and an elliptical curve. Every cryptocurrency transaction that occurs is logged in a web-based ledger with blockchain technology.These then must be approved by a disparate network of individual nodes (computers that maintain a copy of the ledger). For every new block generated, the block must first be authenticated and confirmed ‘approved’ by each node, which makes forging the transactional history of cryptocurrencies nearly impossible. The World’s First CryptoBitcoin became the first blockchain-based cryptocurrency and to this day is still the most demanded cryptocurrency and the most valued. Bitcoin still contributes the majority of the overall cryptocurrency market volume, though several other cryptos have grown in popularity in recent years.Indeed, out of the wake of Bitcoin, iterations of Bitcoin became prevalent which resulted in a multitude of newly created or cloned cryptocurrencies. Contending cryptocurrencies that emerged after Bitcoin’s success is referred to as ‘altcoins’ and they refer to cryptocurrencies such as Bitcoin, Peercoin, Namecoin, Ethereum, Ripple, Stellar, and Dash. Cryptocurrencies promise a wide range of technological innovations that have yet to be structured into being. Simplified payments between two parties without the need for a middle man is one aspect while leveraging blockchain technology to minimize transaction and processing fees for banks is another. Of course, cryptocurrencies have their disadvantages too. This includes issues of tax evasion, money laundering, and other illicit online activities where anonymity is a dire ingredient in solicitous and fraudulent activities. Read this Term such as Bitcoin, Ethereum, Ripple, and Litecoin against various fiat currencies, namely the US dollar, the Canadian dollar, Euro, British pound and Japanese yen. Most recently, the Swiss franc joined the roster of fiat currencies that Kraken currently supports.
Kraken has recently joined the Silvergate Exchange Network (SEN), developed by crypto-friendly lender Silvergate Bank, to enable its customers to deposit and withdraw US dollars from their bank accounts with no fees.
According to the official press release, the exchange will go live with its FX products tomorrow at approximately 14:30 UTC. The Kraken team further revealed that those residing in the US, however, are barred from trading currencies directly on the platform.
Kraken will support the newly-introduced product with the following pairs: EURCAD, USDCAD, EURCHF, EURGBP, USDCHF, EURJPY, USDJPY, EURUSD, and GBPUSD.
Further trading pairs will be added to the exchange in the future, and Kraken’s stablecoin fee schedule will apply for current instruments, the company said.

Connecting the dots between crypto and FX
While the number of trading platforms is growing, Kraken has recently made infrastructure upgrades to create an ecosystem that integrates both fiat and crypto trading in one platform. Now to stand out from the crowd, Kraken allows traders to set up advanced orders such as stop loss and take profit options through its web-based trading portal.
Several FX veterans were also enticed to join crypto firms by the appeal of working in a fast-growing nascent industry where a background in traditional finance can be a big advantage. Last year, the US arm of Japanese cryptocurrency platform Liquid.com appointed CEO of US-based introducing broker Forest Park FX Justin Hertzberg as its first chief executive officer.
Over the past two years, Kraken has transformed itself into a global crypto powerhouse, establishing its strong presence in both the US and European Bitcoin markets. Once the largest Bitcoin exchange in Europe, Kraken has also been a strong contender in the US market, with around three percent market share. Furthermore, Kraken acquired Circle Trade, the largest OTC desks in crypto markets that handled last year alone over $24 billion in volume.