Digital currency exchange Kraken adds support for Monero cryptocurrency

Announcements | January 23, 2017 By:

Digital currency exchange Kraken has announced the support for Monero (XMR) trading on its platform.

Monero, the anonymous cryptocurrency based on CryptoNight protocol has been exhibiting a promising trend in the cryptocurrency industry lately. Its inclusion into Kraken is going to offer the digital currency a much-needed boost to further improve its foothold in the market.

The XMR trading pairs available at launch include XMR/XBT, XMR/EUR, and XMR/USD. Kraken said that margin trading is coming soon.

In its blog post, Kraken mentions the upcoming Monero hard fork at block 1220515 to enable RingCT transactions. It also advises users to upgrade to Monero v0.10.1 before the hard fork to ensure better stability and privacy. Eventually, the hard fork was introduced successfully on January 10, 2017.

Kraken had indicated that all XMR deposits on the platform will go offline before the hard fork and will remain so for few hours after the completion.