Today Kraken launched a partnership with PayCash, a Luxembourg-based leader in innovative EU focused payment solutions, to provide both US dollar (USD) and British pound (GBP) funding to its clients.
These new funding options coincide with the launch of bitcoin-pound (XBT/GBP) trading. The PayCash partnership allows Kraken to leverage its success with the euro market and bring its signature exchange experience to the GBP and USD markets.
Trading between bitcoin and USD was already available, but the partnership brings back USD deposits, which had been disabled since February 2014 after it became apparent that Kraken’s former USD banking partner wasn’t capable of handling the volume Kraken required. “Our clients have asked about this since we stopped servicing USD, and we are proud to say we are making good on an old promise,” said Kraken CEO Jesse Powell.
The partnership was formed very thoughtfully, with complete transparency and commitment to regulatory compliance. Kraken is pleased to offer its clients a strong funding service with an industry-leading level of operational consistency, confidence and security.