Kraken has recently launched an exciting new initiative for clients who receive funds from FTX on its platform. Through this initiative, eligible clients will be able to benefit from fee credits that enable them to trade up to $50,000 in cryptocurrency without being charged any trading fees.
Kraken Partners to Distribute FTX FundsIn December, Kraken was chosen as a partner for distributing funds to former FTX clients. The company aims to reduce the cost of converting these US dollar payouts into cryptocurrencies.
Eligible clients will receive up to $105 in Kraken trading fee credits (KFEE), based on the amount of funds received. These credits will be available on Kraken Pro and credited upon receipt of the FTX distribution.