US crypto exchange Kraken will allow its users (except US residents) to trade forex.
This new functionality will initially only include nine trading pairs with the Canadian dollar (CAD), Swiss franc (CHF), euro (EUR), pound sterling (GBP), Japanese yen (JPY) and US dollar (USD).
Transactions must include a minimum of 10 units of the base currency in order to be carried out. According to Kraken, this limit is significantly lower than the one offered by most forex brokers. At the moment, margin trading is not available.
Even though the exchange has not disclosed any details about how this new solution will be implemented from a technical point of view, it has reported the fees will be the same as the ones applied to stablecoins trading.
Kraken has recently announced its intention to return to the Indian market after the country's Supreme Court lifted the ban on cryptos imposed by the country's central bank (the RBI).
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