Cryptocurrency exchange Kraken has launched support for the Swiss franc (CHF) in partnership with Liechtenstein-based Bank Frick. Starting Dec. 6, users can trade between CHF and Bitcoin as well as CHF and Ether on Kraken’s platform.
Founded in 2011, the U.S.-based exchange allows customers to buy or sell cryptocurrencies including Bitcoin, Ethereum, Ripple, and Litecoin using various fiat currencies. The company recently joined the Silvergate Exchange Network developed by California-chartered Silvergate Bank, which enabled Kraken users to enjoy real-time, around-the-clock deposits and withdrawals of U.S. dollars without a fee. Besides USD, customers can also fund their accounts with Canadian dollars, euros, British pound sterling, and Japanese yen. CHF will be the sixth fiat currency that Kraken supports.
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Ethereum had a breakout year in 2021. It’s native asset, ETH’s, market capitalization surpassed $500 billion for the first time. Its network facilitated upwards of $7 trillion value transfer. Non-fungible tokens (NFTs) emerged as another “killer application” that have put its technology on the global stage and caught the attention of the masses.