Swiss InCore Bank Integrates with Global Crypto Exchange Krakenby Fintechnews Switzerland July 3, 2020
InCore Bank is now the first financial institution in Switzerland to offer banking services to Kraken clients.
Kraken is among the largest cryptocurrency exchange in Europe according to its euro-based volume. With this integration, Kraken is offering clients another simple and secure method to fund their account in four major currencies CAD, CHF, EUR and GBP.
Beginning today, clients located in Europe can fund their accounts in euro via SEPA deposits. Later in Q3, InCore Bank and Kraken will enable CHF, GBP and CAD deposits as well. Support for these major currencies will ensure that traders and investors can start trading against Kraken’s 30+ listed crypto assets with simplicity and ease.
Additionally, the timing for the integration is ideal given growing interest from individual traders and institutions around the world as they seek new sources of value in this uncertain macroeconomic climate. Since the financial market sell-off earlier this year, Bitcoin has outperformed leading market indices in Europe such as the continent-wide Stoxx 6000. Additionally, there are a number of exciting developments regarding other assets, such as Ethereum, that investors are seeking to include in their portfolios.
“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,”
according to 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.”
“We are pleased to work with InCore Bank to further strengthen the links between the crypto industry and traditional financial institutions,”
said Maximilian Marenbach, Head of Banking and Payments, EMEA, Kraken.
“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.”