Kraken Expands Funding Options with PayPal Integration

Kraken has added PayPal as a funding option for US customers, allowing for instant USD deposits without bank details. The feature has seen over $1 million in volume during a soft launch. Kraken is also integrated into PayPal's "Pay with Crypto" system, which enables instant settlement and conversion to stablecoins or fiat.

Kraken, a leading cryptocurrency exchange, has expanded its funding options for U.S. customers by integrating PayPal. This new feature allows users to deposit USD directly into their Kraken wallets, facilitating seamless and instant trading without the need for traditional banking processes. The integration is part of Kraken's broader mission to make cryptocurrency more accessible.

During the soft launch, clients successfully moved over $1 million through PayPal deposits without any marketing efforts, underscoring the popularity and ease of use of the new feature. Users can choose to use their PayPal balance, linked bank accounts, or cards, all without the need to enter bank credentials or navigate third-party login pop-ups. This integration aims to simplify the crypto trading process for both new and experienced users.

The addition of PayPal as a funding option enhances Kraken’s existing USD deposit methods for U.S. users, which include ACH transfers (through Plaid), FedWire, and debit cards. By offering a faster, more seamless way to fund accounts, Kraken is catering to the growing demand for instant and convenient crypto trading.

Kraken is also among the exchanges now integrated into PayPal’s new “Pay with Crypto” system, which enables instant settlement and conversion to stablecoins or fiat. This system aims to reduce cross-border fees by up to 90%, making it easier for users to transact in cryptocurrencies. The integration of PayPal into Kraken's platform further expands the reach of this convenient service, which was previously offered to clients in the EU, U.K., and Australia.

To get started with PayPal funding, users need to log in to their Kraken account, select PayPal at checkout, and follow the simple instructions. The entire process takes only a few minutes. This new feature is available to U.S. clients and is subject to geographic restrictions.

References:
[1] https://www.ainvest.com/news/kraken-offers-instant-usd-deposits-clients-paypal-2508/
[2] https://crypto.news/kraken-adds-paypal-as-funding-option-for-u-s-customers/
[3] https://www.ainvest.com/news/bitcoin-news-today-coinbase-launches-paypal-crypto-integration-canadian-users-2508/