Rejected: Kraken Grants Special Treatment to Silvergate Exchange Network Users on its Platform

Kraken, a U.S headquartered cryptocurrency exchange firm, has joined the Silvergate Exchange Network (SEN), an internal payments platform developed by Silvergate Bank, to enable SEN users to deposit and withdraw SEN with zero fees.

Kraken noted that this particular announcement further clarifies their mission of ensuring and offering financial freedom to clients by giving them more opportunities to manage their assets.

As stated in the official announcement, the eligibility status is satisfied by all verified Kraken Pro clients. Depositing of funds can only be done in USD and the process will be based on whether Kraken users have a Silvergate account. Those who Silvergate account will merely have to enable SEN funding on their Kraken account whether domestic or international before the can use the option. Those who do not have an account will have to apply separately to Silvergate bank.

The report claimed that Silvergate is one of the most crypto-friendly and innovative banks in the world which has just completed an IPO on the New York Stock Exchange. And with Kraken on their side, users can leverage SEN to fund their Kraken account within minutes and with zero fees.