The post Crypto News: Kraken Adds PayPal Funding Option for US Clients appeared first on Coinpedia Fintech News
Crypto trading platform Kraken now allows American users to make instant USD deposits via PayPal. The integration has already shown strong traction during its soft launch, with over $1 million in deposits already processed.
Kraken Facilitates Seamless Transaction With PayPal
The new feature allows US clients to facilitate speedy trading without the need for traditional banking processes. Users can choose to fund their Kraken wallet instantly without having to enter bank credentials or navigate third-party login pop-ups.
For quicker transactions, Kraken has added options of ACH transfers (through Plaid), FedWire, and debit cards. To use this, U.S. clients can log into their accounts, select PayPal at checkout, and follow the instructions for instant funding. The users can trade more than 400 cryptocurrencies through the Kraken Pro or Kraken app.
The integration is simplifying the crypto trading process for both new and experienced users. Additional services in the integration include staking, earning rewards, or sending money with Kraken Pay.
PayPal’s Broader Mission With Crypto
PayPal is a secure platform that has already integrated with Kraken in the EU, UK, and Australia, and it continues to expand its reach. It also recently revealed a “Pay with Crypto” solution for United States merchants, supporting over 100 cryptos, including Bitcoin, Ethereum, and leading stablecoins.
The platform is designed to reduce cross-border fees by up to 90%, enabling instant settlements and conversion to stablecoins or fiat. PayPal supports global reach without slowing down payments and adding costs.
PayPal president and CEO Alex Chriss said, “Last week, we launched PayPal World, our global partnership bringing together five of the world’s largest digital wallets on a single platform, fundamentally reimagining how money moves around the world.
“By enabling seamless cross-border crypto payments, we’re breaking long-standing barriers in global commerce,” he added.