Kraken Adds USDT Support

Announcements, FinTech | April 1, 2017 By:

San Francisco-based cryptocurrency exchange Kraken will now support for Tether (USDT), the company announced.

Tether is based on the Omni protocol, generated using blockchain technology, and backed by fiat, so that 1 USDT represents 1 US dollar held in reserve by the company behind the Tether project.

“Adding tether to Kraken’s platform means that clients now have a new digital asset that can be quickly transferred to fund their accounts and easily exchanged for USD in order to access Kraken’s USD-based markets,” said a statement on the company’s blog.

For making USDT deposit to Kraken account, users need to: go to Funding > Deposit > USDT and click “Generate New Address.” Then send USDT to this deposit address from any Tether-enabled wallet.