We are excited to announce that Kraken now supports deposits and withdrawals from Tether (USDT) through the Solana network!
Solana is an open source blockchain platform and scaling solution for decentralized applications (dApps). The platform uses a novel consensus mechanism known as Proof of History (PoH) to increase transaction throughput and hosts a growing ecosystem of Challenge protocols and NFT markets. SOL is the protocol’s native token that is used to purchase goods and services within the ecosystem, pay network transaction fees, and earn rewards through staking for helping secure the network. Check out the Kraken Learn Center Guide What is Solana? Or How to buy Solana to learn more.
Funding is already live. You can transfer USDT to your Kraken account by accessing Fundingby selecting USDT and choosing the desired deposit method from the drop-down list (network): SPL.
Already have USDT on the Solana network and a Kraken account? ⤵️
Here’s what you need to know about the asset:
Tether (USDT) is the largest stablecoin in the world by market capitalization. Tether (USDT) was created in 2014 as one of the first digital assets to be fully backed 1:1 by traditional fiat currency, in this case the US dollar. Tether can be used to convert cash into digital currency and claims that all USDT in circulation reflects the amount of their US dollar reserves. This support allows the value of Tether to stay close to $1 at all times. Find out how to add USDT to your crypto wallet with our Learn Center article How to buy Tether (USDT).
Ready to deposit but don’t have a Kraken account yet? register today!
Will Kraken make more assets available?
Yes! But our policy is not to reveal any details before launch, including the assets we are considering. All available Kraken tokens can be found here, and all future tokens will be announced on Kraken’s blog and social media profiles. Our customer engagement specialists cannot answer any questions about any assets we may make available in the future.
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