Kraken has officially launched in Canada following a partnership with digital currency industry-focused risk management specialist Vogogo.
The San Francisco-based bitcoin exchange now allows users in Canada to convert Canadian dollars into digital currencies using Interac e-Transfer and electronic fund transfers (EFT). Trading fees are then priced between 0.10% and 0.35%, with more active traders receiving more attractive rates.
In statements, Kraken CEO Jesse Powell indicated that the company saw significant potential in the Canadian market. The exchange has been one of the most active US firms in the global market, opening to Japan and adding GBP trading in October. Kraken is also one of the more prominent businesses to pull out of the US market over legal concerns.
Kraken becomes the latest US bitcoin exchange to enter the Canadian market, a move that follows the closures of former market leaders CaVirtex and Vault of Satoshi in early 2015. New York-based platform Coinsetter since acquired Cavirtex in April for an undisclosed amount.
Kraken is currently the market leader in EUR trading according to data from Bitcoin Charts, boasting 24-hour volume of 4,579 BTC, a figure that puts it ahead of competitors including ANX and BTC-e.
Image via Kraken