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Cryptocurrency Exchange Kraken to Allow Transactions in Swiss Francs

Leveraging its collaboration with Liechtenstein-based Bank Frick, cryptocurrency Exchange Kraken has announced that it will support transactions in Swiss Francs (CHF) from December 6.

The trading pairs of CHF are BTC/CHF and ETH/CHF. Kraken may add more in the future. Trading will also begin on 6 December.

CHF is the sixth fiat currency to be allowed on Kraken, and the others are US dollar, Canadian dollar, euro, British pound sterling, and Japanese yen.

Minimum deposit and withdrawal limits have been set at 100 CHF. The maximum deposit and withdrawal limit depends on the limit on individual Kraken accounts and goes up to 10,000,000 CHF per transaction.

The transaction fees for CHF transactions are set at CHF 0.15 per deposit, CHF 1.00 per withdrawal. For SWIFT transactions, the on are CHF 10 per deposit and CHF 18 per withdrawal.

To deposit CHF, users will have to go to the Funding tab and click on “Show all assets.” Then, they have to click “Deposit” on CHF and Select Bank Frick.

To withdraw CHF, users will have to go to the Funding tab and click on “Show all assets.” Then they have to click “Withdraw” on EUR and Select Bank Frick.

Funds sent in any other currency except EUR and CHF will be converted to EUR and entail additional transaction fees.

Founded in 2011, Kraken is one of the world’s largest cryptocurrency exchanges. It lists Bitcoin, Ethereum, Ripple, Litecoin, and EOS. It is the first cryptocurrency exchange, to display its market data on the Bloomberg Terminal, pass a cryptographically verified proof-of-reserves audit, and one of the first to offer leveraged marked trading in cryptocurrency.

Kraken recently joined Silvergate Exchange Network (SEN), which allows Kraken’s users to withdraw or deposit US dollars from their accounts in Silvergate Bank, without paying any fees.

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