In line with its recently communicated strategy regarding digital assets, InCore Bank is now the first financial institution in Switzerland to offer banking services to Kraken clients.
Zurich/Schlieren, 3 July 2020 – Kraken is the largest cryptocurrency exchange in Europe according to 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 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.
Strengthen the links between the crypto industry and traditional financial institutions
«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. 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.» - Mark Dambacher, CEO of InCore Bank.
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.
«We are pleased to work with InCore Bank to further strengthen the links between the crypto industry and traditional financial institutions. 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.» - Maximilian Marenbach, Head of Banking and Payments, EMEA, Kraken
About Kraken
Kraken is the world’s largest global digital asset exchange based on euro volume and liquidity. Kraken’s clients trade more than 30 digital assets and 7 different fiat currencies, including EUR, USD, CAD, GBP, JPY, CHF and AUD. Founded in 2011, Kraken was the first digital asset exchange to have its market data displayed on the Bloomberg Terminal, the first to pass a cryptographically verifiable proof-of-reserves audit and one of the first exchanges to offer leveraged bitcoin margin trading. Kraken is trusted by more than 4 million traders, institutions and authorities around the world. Kraken is backed by investors including Hummingbird Ventures, Blockchain Capital and Digital Currency Group, among others. For more information about Kraken, please visit www.kraken.com.
About InCore Bank
InCore Bank is a one-stop business-to-business transaction bank founded in 2007, providing banks, securities dealers and fintech companies first-class transaction banking and outsourcing services. As a Swiss corporation with a banking and securities dealer license, InCore Bank offers a comprehensive and modular range of services covering transaction banking for traditional and digital assets, business process outsourcing and other services. This offering enables other market participants to reduce complexity and focus on their core business. www.incorebank.ch
