One of the biggest and oldest Bitcoin (BTC) exchanges in the world, Kraken, has partnered with Silvergate Exchange Network (SEN). SEN is a network of crypto exchanges and investors that enables U.S dollars transactions between its members. By joining SEN, in accordance to the firm’s announcement on November 27, Kraken will enable its clients to deposit and withdraw U.S dollars from the accounts of Silvergate with no fees collected.
The depositing process, however, will be different based on whether users of Kraken have a Silvergate account. If they own an account at Silvergate, the users will just have to enable SEN funding on their account on Kraken before they can use the option. If the client has no account, it would be suggested to apply separately at bank.