Kraken To Launch Ethereum USDT and Orchid (OXT) Today

Kraken To Launch Ethereum USDT and Orchid (OXT) Today

Today (June 2nd) will see two new additions to the trading capabilities at Kraken with new support for Orchid (OXT) and USDT on Ethereum Trading.

The first of these new additions is a native token of VPN alternative, Orchid. With the OXT token, users are able to buy bandwidth and purchase and stake the asset in order to ensure its operation continues.

The benefits of Orchid over other VPN alternatives include the ability to:

  • Pay anonymously for only the bandwidth you use.
  • Easily change providers.
  • Share your account.

While you cannot stake the tokens via Kraken, you can begin trading the token from 13:30 UTC via the trading pairs OXT/USD, OXT/EUR, OXT/XBT, and OXT/ETH.  

USDT on Ethereum

The other news from Kraken is the launch of deposits and withdrawals of USDT on the Ethereum blockchain (USDT-ERC20), which will also give live at 13:30 UTC. Tether was already available on Kraken but in a different variation.

This is because it has been previously launched on a number of different blockchains, one of which is Ethereum. It is this specific format of USDT that the new deposit and withdrawal option has been implemented for. Nevertheless, they will all be shown as USDT within your account.

To prepare yourself for these new additions to Kraken, go to their platform now.

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