We’re excited to announce that Kraken now supports deposits and withdrawals for three major stablecoins—Dai (DAI), USD Coin (USDC), and Tether (USDT)—via the Polygon Network.
What Is the Polygon Network?
Polygon is a Layer 2 scaling solution for Ethereum, designed to enhance transaction speed while reducing costs and complexity. As a proof-of-stake (PoS) sidechain, it maintains security through decentralized validation, making it a preferred choice for efficient crypto transactions.
👉 Learn more about Polygon’s advantages here
How to Deposit Stablecoins on Kraken
Funding is now live! Follow these steps to transfer your stablecoins:
- Navigate to Funding on Kraken.
- Select DAI, USDC, or USDT.
- Choose Polygon Network from the deposit method options.
Important Notes:
- Kraken supports USDC.e (bridged USDC) and native Polygon USDC.
- USDC.e will remain supported until further notice.
Stablecoins Supported on Polygon
Dai (DAI)
DAI is a decentralized stablecoin backed by collateral and pegged to the US Dollar. Its low volatility makes it ideal for payments and hedging.
USD Coin (USDC)
USDC is a fully backed stablecoin redeemable 1:1 for USD. It’s widely used in decentralized finance (DeFi) and trading.
Tether (USDT)
USDT, one of the earliest stablecoins, offers price stability by maintaining 1:1 USD reserves.
Frequently Asked Questions (FAQ)
Can I deposit other assets via Polygon soon?
Kraken plans to expand supported assets but does not disclose details before launch. Follow Kraken’s official channels for updates.
Are Polygon transactions faster than Ethereum?
Yes! Polygon processes transactions faster and at a fraction of Ethereum’s gas fees.
Is USDC.e different from native USDC?
Yes. USDC.e is a bridged version, while native USDC operates directly on Polygon. Both are currently supported.
Trading Considerations
- Limit orders may not always execute.
- Market orders are subject to liquidity conditions.
Disclaimer: This content is for informational purposes only and not financial advice. Crypto investments carry risks, including potential loss of capital. Tax implications may apply. Geographic restrictions may limit access to certain services.
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