Swiss transaction bank InCore Bank AG has announced it is now the first bank in Switzerland to offer banking services to the Kraken cryptocurrency exchange.
According to the bank, with the partnership Kraken can offer "another simple and secure method" to fund their account in four major currencies CAD, CHF, EUR and GBP.
From now on, Europe-based clients of the exchange can fund their accounts in euro via SEPA deposits.
The bank plans to add support for CHF, GBP and CAD deposits later in Q3.
InCore Bank CEO Mark Dambacher says cryptocurrencies are "a valuable addition to modern asset management" and will be "indispensable" as a payment and investment value in the future.
"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," Dambacher added.
Earlier iHodl reported that a self-hosted, open-source cryptocurrency payment processor, BTCPay Server, received a grant of $150,000 from Kraken.
According to the company, Kraken launched the integration of BTCPay on Cryptowatch, Kraken's premium trading terminal that provides real-time cryptocurrency market data.
It is worth noting that previously InCore Bank became the first Switzerland-based bank that received a permission from the Swiss Financial Market Supervisory Authority (FINMA) to trade, hold, transfer and generate (tokenize) digital assets.
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