Kraken to Stop SWIFT Support

The company noted clients that SEPA EUR transfers will remain active
01 March 2018   1849

The Kraken sent a letter to its customers informing about closing the accounts for in the Japanese bank SMBC. The decision comes into force on March 21.

While this is a disappointing development, we are dedicating further resources to our banking relationships and the implementation of new funding methods. We will reach out to you again when we have further details to share.

Kraken Letter

All deposits received on these accounts before March 20, will be processed by the exchange. Starting from March 21, deposits will be returned to the sender's account. The withdrawal of funds through SWIFT in USD, EUR, GBP and JPY will be available until March 27. After that, all funds will be returned to the users' accounts on the exchange.

The exchange does not explain what exactly this decision is caused, and promises to direct efforts to establish new ties with banks, as well as to develop new methods of account refill.

Kraken to Acquired Bit Trade

Bit Trade is the oldest Australian exchange, so, thanks to the deal, Kraken expects to strengthen its presence in the Asia-Pacific region
15 January 2020   97

The American bitcoin exchange Kraken announced the acquisition of the Australian Bit Trade crypto-trading platform, founded in 2013.

Thanks to the deal, Kraken expects to strengthen its presence in the Asia-Pacific region and become the largest cryptocurrency service in Australia. Last month, the exchange acquired an OTC platform of Circle.

Kraken also believes that the acquisition will strengthen its position in the field of over-the-counter cryptocurrency trading. 

Kraken intends to offer institutional and retail customers a single interface across multiple trading platforms.

In the short term, Bit Trade will continue under its current brand and operate business as usual.  As part of the acquisition we are pleased to welcome the Bit Trade team led by Jonathon Miller who will be Managing Director for Kraken in Australia.


The representative of the exchange said that in the short term, Bit Trade will continue to work under its brand.