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USDC deposits and withdrawals now available on Optimism!

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We’re thrilled to announce that Kraken now supports deposits and withdrawals of USD Coin (USDC) on Optimism!

Funding

USDC funding via Optimism is already live. You can transfer USD Coin (USDC) to your Kraken account by navigating to Funding and selecting USDC. From there, use the drop-down box to select the desired deposit method (network): Optimism. 

Note: Kraken currently supports two versions of USDC: USDC.e and Optimism’s native USDC.

Got USDC on Optimism? ⤵️

Here’s what you need to know about the asset

USD Coin (USDC) is a USD-backed stablecoin that is backed by the US dollar. It allows for faster and more cost effective transactions compared to traditional banking options. Each USD Coin is valued at one US dollar, effectively providing a price-stable cryptocurrency. Learn how to add USDC to your crypto portfolio with our Learn Center article How to Buy USD Coin (USDC).

Optimism (OP) is a Layer 2 scaling solution implemented on the Ethereum network. It employs a technology known as optimistic rollups to aggregate multiple transactions, thereby alleviating congestion and lowering transaction fees on the Ethereum mainnet. OP is Optimism’s native governance token, which allows OP token holders to participate in decisions regarding the protocol’s future direction, upgrades and parameters.

Ready to deposit but don’t have a Kraken account yet? Sign up today!

Trade with caution

There is no guarantee that a limit order will execute. There is also no guarantee a market order will execute at a certain price. The availability and liquidity of the particular digital asset will impact these types of orders.

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These materials are for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell, stake or hold any cryptoasset or to engage in any specific trading strategy. Kraken does not and will not work to increase or decrease the price of any particular cryptoasset it makes available. Some crypto products and markets are unregulated, and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the cryptoasset markets can lead to loss of funds. Tax may be payable on any return and/or on any increase in the value of your cryptoassets and you should seek independent advice on your taxation position. Geographic restrictions may apply.

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