New Options For Fiat Funding Available At BTC Exchange “Kraken”

Kraken, a platform that offers the services of exchanging bitcoin with credit card, now supports electronic funds transfers in USD and other fiat money.

As announced in Kraken’s email to its users delivered on April 18, 2017, the online exchange has introduced the support for USD, EUR and GBP wire transfers, with both depositing and withdrawing operations available. However, the withdrawal feature was put into effect several days later than the deposit one, on April 24.

According to experts, such a step on the part of the San Francisco-headquartered Kraken startup seems time lyand appropriate, given the current situation in the BTC exchange space in the world. Worth recalling, on April 17, Bitfinex, a major BTC exchange platform and the largest one in terms of available USD funds, announced a temporary cessation of any wire operations due to some problems with its Taiwan banks. Experts also recall that earlier Bitfinex filed a lawsuit over certain issues regarding outbound USD-denominated electronic funds transfers. However, the suit was withdrawn within less than two weeks.

Another major factor influencing the global BTC market is the exchange ecosystem that has developed in China, where the range of regulatory pressures has resulted in an effective lock down of cryptocurrencies. Talks are underway with the country’s central banking structure, the People’s Bank, with the aim of achievinga reactivation of BTC and LTC withdrawing options.

Analysts assure that the Bitcoin market continues to develop stably, despite the mentioned issues and challenges. However, concerns have been voiced by those trading on exchanges regarding possible deviations in the market operations involving cryptocurrencies.