Exchange

Kraken Launches Support for Swiss Franc (CHF)

Kraken, a cryptocurrency exchange in partnership with Liechtenstein-based bank Frick, launches support for Swiss Franc (CHF). From December 6, users can start trading between CHF and Bitcoin and CHF and Ether on Kraken’s platform.

The Kraken blog post announced,

“In collaboration with our newest EUR funding partner, Liechtenstein-based Bank Frick, we have added our newest fiat asset, the Swiss franc (CHF). This is the sixth currency that Kraken will trade; joining USD, CAD, EUR, GBP, and JPY. This latest partnership further promotes our mission of delivering financial freedom by giving clients more choice when it comes to managing their assets.”

Funding limits

  • Minimum deposit/withdrawal – 100 with CHF
  • Maximum deposit/withdrawal – Set by Kraken account limits (up to a max of 10,000,000 CHF per transaction)

Trading Pairs Offered

Users can trade BTC/CHF and CHF/ETH. More pairs would be added soon. Further, trading will begin on Friday, December 6 at 14:30 UTC.

Is it possible to deposit various currencies apart from CHF?

It is possible, and the client can also deposit in EUR. Further, funds sent in any other currency aside from EUR or CHF will be first converted to EUR, which are liable for additional banking charges.

Fees

  • Deposits (SIC Local Settlement) – CHF 0.15
  • Withdrawals (SIC Local Settlement) – CHF 1.00
  • Deposits (SWIFT) – CHF 10
  • Withdrawals (SWIFT) – CHF 18

How to Deposit Funds?

Funds can be deposited by –

  • Navigate through Funding, by clicking “Show all assets” (or the user can search for CHF).
  • Click Deposit next to CHF
  • Select bank Frick
  • Follow the instructions given

How Can Funds be withdrawn?

Withdrawal of funds can be done by –

  • Navigate through Funding
  • Click “Show all assets” (or the user can search for CHF)
  • Click “Withdraw” next to EUR
  • Select Bank Frick
  • Follow the instructions given

Kraken, the U.S. based exchange, was founded in 2011, allows its clients to purchase or sell cryptocurrencies like Bitcoin, Ripple, Ethereum, and Litecoin using different fiat currencies. Besides USD, clients can fund their accounts with Euros, British pound sterling, Canadian dollars, and Japanese yen. The sixth fiat currency supported by Kraken is CHF.

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Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.
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