We are delighted to announce that Kraken now supports deposits and withdrawals of 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 is home to a growing ecosystem of DeFi protocols and NFT markets. SOL is the native token of the protocol used to purchase goods and services within the ecosystem, pay network transaction fees, and earn rewards through staking for helping to protect the network. Check out the Kraken Learning Center guide What is Solana? or How to buy Solana to learn more.
Funding is already active. You can transfer USDT to your Kraken account by going to Moneyselecting USDT and choosing the desired deposit method from the dropdown box (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) it is the world’s largest stablecoin 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 its US dollar reserves. This backing allows the value of Tether to remain close to $1 at all times. Learn how to add USDT to your cryptocurrency portfolio with our Learning Center article How to buy Tether (USDT).
Ready to deposit but don’t have a Kraken account yet? sign up today!
Will Kraken make more assets available?
Yeah! But our policy is to never reveal any details until shortly before launch, including the assets we’re 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 what assets we may make available in the future.
Operate with caution
There is no guarantee that a limit order will be executed. There is also no guarantee that a market order will be executed at a certain price. The availability and liquidity of the particular digital asset will affect these types of orders.
These materials are for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell, bet or hold any crypto asset or to engage in any specific trading strategy. Some cryptographic markets and products are not regulated and you may not be protected by government compensation schemes and/or regulatory protection. The unpredictable nature of crypto asset markets can lead to loss of funds. Taxes may be payable on any returns and/or on any increase in the value of your crypto assets and you should seek independent advice on your tax position. Geographical restrictions may apply.
This post USDT deposits and withdrawals available through the Solana network!
was published first on https://blog.kraken.com/post/18064/usdt-deposits-and-withdrawals-available-via-the-solana-network/