Kraken Joins Silvergate Exchange Network Enabling Fee-Less, Real-Time Transfers

  • Crypto exchange Kraken has announced joining the Silvergate Exchange Network (SEN).
  • The exchange's users can transfer funds 24/7, in real-time, without paying a fee. 

Cryptocurrency exchange Kraken has announced joining the Silvergate Exchange Network (SEN) to enable real-time fund transfers. 

According to Kraken’s official statement published on November 27, the exchange will be joining the Silvergate Exchange Network, which allows for real-time, 24/7 deposits and withdrawals. 

SEN is the proprietary internal payments platform developed by the crypto-friendly Silvergate Bank, which made its IPO debut on the New York Stock Exchange (NYSE) earlier in the month. SEN-based transfers are limited to US dollar deposits and withdrawals but do not require a transaction fee. 

The anouncement states:

Now that Kraken is part of the network, you can leverage SEN to fund your Kraken account within minutes and with no fees, 24/7.

Kraken clients will first be required to set up a separate account at Silvergate, or link their existing account through the use of a Kraken Client Engagement Specialist

A U.S. Securities and Exchange Commission (SEC) filing on October 28 showed that  Silvergate, who raised $40 million through its IPO, serves more than 750 cryptocurrency businesses and clients. 

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OKEx, Skew Release 10 New Trading Data Charts as Partnership Evolves

Popular cryptocurrency exchange OKEx and crypto market derivatives data aggregator Skew have unveiled plans for the second phase of their partnership, release 10 new trading data charts as it evolves.

According to a press release published by OKEx the exchanges was the first one to share data from its futures and options markets through its own dashboard on Skew. The second phase of the collaboration between both organizations will add 10 new advanced charts with “even more in-depth metrics available to them.”

The second phase of the partnership between OKEx and Skew is set to bring various new features, among them the new charts. These include charts such as the BTC futures Aggregated Open Interest, the BTC Perpetual Swap Price vs Spot, and the BTC Options Volumes & Open Interest, among others.

chart.pngSource: OKEx

The new charts come shortly after OKEx expanded its derivatives portfolio with the launch of ETH/USD options on its platform, and with the announcement of EOS/USD options. The cryptocurrency exchange has been leading when it comes to derivatives trading volumes, thanks to perpetual swaps for top cryptoassets like BTC, ETH, and others.

In its announcement, OKEx claims the diversity it offers is appealing to institutional and professional traders who can keep their pricing strategies more flexible. Its main goal, it adds, is to make products “accessible to a wider audience of retail – as well as beginner – traders.” To do this, it invests resources in its Academy.

To bolster the partnership, the cryptocurrency exchange prepared a guide to highlight and explain how to read and analyze the new charts. OKEx’s Director of Financial Markets, Lennix Lai, commented:

We hope to provide even greater transparency for users through this second phase with Skew. That also means helping traders understand how to interpret sometimes complex charts and how to use the information to execute better trades.

Lai added that the guide will help users read and interpret the charts, as they can be “daunting at first and are typically left for advanced users.” As CryptoGlobe reported, last month OKEx announced an OKChain hackathon to boost the development of decentralized applications for its blockchain.

Featured image via Pixabay.