Kraken Introduces Forex Trading With 9 Assets

Kraken, a California-based cryptocurrency exchange, is adding forex trading for a variety of different currencies.

The group will be adding nine pairs in total:

• EURCAD
• USDCAD
• EURCHF
• EURGBP
• USDCHF
• EURJPY
• USDJPY
• EURUSD
• GBPUSD

These pairs will become available at exactly 14:30 UTC today, the exchange reports.

As of now, these are the only nine currencies that will be added, though more may come in the future. Also, according to the platform, those inside the United States will not be able to “trade between CAD, CHF, EUR, GBP, JPY and USD directly on the Kraken platform.”

On top of this, there has to be “at least 10 units of base currency in each transaction.”

Recently, the FCA came after Kraken for (allegedly) illegally providing services within the United Kingdom.

On top of this, Kraken’s director Dan Held claimed that Bitcoin is actually worth around $100k – a claim that many might deny now that the asset is sitting around $6k.

So far, Bitcoin is failing the safe-haven assessment that many have given it, considering that during a slight global panic with coronavirus, Bitcoin has fallen hard.

We’ve yet to see what will happen with the asset’s price, but it’s likely to get a lot worse before it gets better.