Sobaco InCore Bank, the Swiss financial institution announced a new partnership with the leading Kraken exchange. The new partnership is in line with the latest strategy guideline in the Swiss bank regarding digital assets.
Kraken clients will benefit from the newest collaboration between the exchange and big traditional financial institution. InCore is committed to providing banking services to Kraken clients. This is the first time a Swiss financial institution provides services to Kraken clients. Now the European users in Kraken platform can fund their accounts using four most popular fiat currencies: CAD, CHF, EUR, and GBP.
More Financial Services for Cryptocurrency Traders
Kraken is the largest cryptocurrency exchange in Europe. The partnership with Swiss InCore Bank creates many opportunities for the clients of this exchange. They can now use SEPA deposits to fund their accounts with fiat currencies. CHF, GBP, and CAD deposits will be enabled in Q3 2020. The new features make it more straightforward for traders to start depositing assets and trade with more than 30 listed cryptocurrencies in Kraken exchange.
The current pandemic around the world and Europe specifically, has made an uncertain economic situation. Cryptocurrency markets, on the other hand, are experiencing good interest. Many individuals and enterprise are looking at these new markets as a means for storing value and investment. So, the situation is fantastic for partnerships like this between traditional financial services and cryptocurrency exchanges to provide more accessible ways to enter the market for investors.
InCore Bank is very optimistic about the recent partnership with the cryptocurrency exchange.
“Private and institutional clients who want to diversify their portfolio in an intelligent and innovative way with Kraken can transfer fiat assets via InCore Bank to the crypto exchange», said Mark Dambacher, CEO of InCore Bank. «As digital assets, cryptocurrencies are a valuable addition to modern asset management and will be indispensable as a payment and investment value in the future. Therefore we are delighted to offer this service to Kraken clients.”
Kraken exchange executives believe that partnership with traditional financial institution creates many opportunities for the crypto industry.
“They deeply understand the potential of digital assets, making them an ideal funding partner for our clients. We are constantly working to offer our clients additional options for funding their accounts,” said Maximilian Marenbach, Head of Banking and Payments, EMEA, Kraken about InCore Bank.
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