Vogogo and Kraken are working on several industry initiatives and the partnership is now active in Canada to make Kraken available to clients throughout the country. The Vogogo platform provides Kraken with risk management, security, compliance and payment processing services to enable Kraken’s clients to seamlessly exchange between Canadian dollars and bitcoin or other crypto-currencies.
Through the partnership with Vogogo, Kraken will be offering both Interac and EFT payments in Canadian dollars. Interac deposits will typically be credited within a few minutes after being sent so clients can start trading immediately with the funds.
Along with the new funding options, Kraken now supports trading between bitcoins and Canadian dollars (XBT/CAD). Canadian clients will have access to Kraken’s relatively low trading fees, which can be as low as 0.10% for high volume traders and up to 0.35% for less active traders. Vogogo will charge Kraken on a per transaction basis.
Vogogo CEO Geoff Gordon commented:
The Kraken team is undoubtedly one of the most talented, sophisticated and capable crypto exchanges in the industry and together we share a commitment to solidifying the global crypto ecosystem. Their level of diligence in selecting partners speaks to the reputation Vogogo has gained within the industry. We’re excited, but perhaps more importantly, we are focused on working with Kraken and playing our part in enabling and accelerating their growth. We will continue to provide secure, effective and compliant access to global banking and payment networks allowing Kraken to look forward and focus on being the very best at their business.
Kraken CEO Jesse Powell said:
We see a lot of opportunity for Kraken in Canada and we’re counting on Vogogo’s expertise in risk management and payment processing to make it possible for Canadians to move their dollars safely and efficiently to and from Kraken. We’re looking forward to providing fast settlement and liquidity that will enable the Canadian market for bitcoin and bitcoin businesses to flourish.