Kraken to Add Bech32 Support for BTC and QTUM

Bech32 format corresponds to addresses that support sending transactions using SegWit scaling technology
08 November 2018   1229

The popular American cryptocurrency exchange Kraken announced the long-awaited integration of Bech32 addresses for Bitcoin and QTUM.

To date, Bech32 addresses have been integrated only for withdrawal operations. Bech32 addresses start with “bc1” and “qc1” for bitcoin and QTUM, respectively. Support for Bech32 addresses for depositing operations will be implemented soon, the company promises.

The Bech32 format corresponds to addresses that support sending transactions using SegWit scaling technology, activated in the Bitcoin blockchain about a year ago. According to the transactionfee.info portal, by now the share of SegWit transactions in the Bitcoin blockchain has again dropped to 42%, after being briefly close to 50%.

Earlier, the Kraken exchange stated that it supported the launch of SegWit in the bitcoin blockchain and uses the Bech32 format to make transfers in its internal systems, but refused to provide customers with access to such addresses until the technology is integrated into large wallets such as Bitcoin Core. Release of Bitcoin Core 0.16.0 with support for SegWit was held in February of this year.

Get more info on Bech32 at GitHub.

Kraken to Return to India

Big US exchange is going to return to the Indian market because the Supreme Court had lifted the crypto-related ban, imposed by the CB
10 March 2020   202

The American bitcoin exchange Kraken will return to India with a full range of products, including the futures, derivatives market and spot trading. This decision was made after the Supreme Court of India lifted the ban of the central bank to carry out operations with digital assets by reporting organizations, the exchange’s blog reported.

Kraken also plans to allocate additional resources to expand its services in the region with new features and offers.

Sunny Ray, head of global business development at Kraken, said that “winning the standoff with the Reserve Bank of the world's second largest population is a huge achievement.”

We fought for 1.5 billion people to have the right to access crypto.

 

Sunny Ray

Kraken Head of Global Business Development