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   493

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 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 Acquire Crypto Facilities

Crypto Facilities provides BTC, ETH, XRP, LTC, BCH futures AND delivers CME pricing data
04 February 2019   199

Kraken acquired the British cryptoderivative platform Crypto Facilities. This is stated in appropriate press release.

The exact amount of the transaction is not specified, it said only that it is expressed in "a nine-digit number." Crypto Facilities features Bitcoin, Live, XRP, Litecoin and Bitcoin Cash futures. The platform also delivers CME pricing data.

I’m thrilled to welcome the Crypto Facilities team into the Kraken family. We are excited to introduce eligible clients to these industry leading futures and index products. Over the coming months, our teams will continue to enhance and expand these offerings. We’ve got great stuff in store for traders and institutional clients in 2019.

Jesse Powell
CEO, Kraken

In an interview with Fortune, Powell said that Kraken will soon receive a $ 100 million investment from the “big customers of the exchange.”

In December last year, it became known that Kraken is considering the possibility of a private placement of securities when valuing the company at $ 4 billion.