Kraken taps British ClearBank for GBP clearing services

Crypto Exchange, based in the United States, Kraken would have united his forces with the regulated British compensation bank of Clearbank to provide services based on books for customers in the United Kingdom

British Bank Clearbank has widened its role in the cryptography market by associating with US Exchange Kraken To provide GBP compensation services to British Kraken customers, following the recent acquisition of an EMI license through its Payward entity services.

According to an April 3 press releaseClearbank will be the main British bank of Kraken, having already supported Crypto Facility Limited, a branch of investment regulated by the FCA of the Kraken group, with monetary accounts of the customer.

Clearbank customer director John Salter, commenting on the partnership, said the two companies share “similar long -term growth plans”, although he did not go into details.

Clearbank is not new in the crypto scene – in 2018, he associated with With London Block Exchange, the first exchange of crypto dedicated to the United Kingdom, allowing local customers to exchange digital currencies without the need to send money abroad.

The partnership comes like Kraken look at it Up to $ 1 billion in loan funding before a potential IPO. As Crypto.News reported it earlier, the EXCHAGEN Crypto works with the Goldman Sachs and JPMorgan Chase financial heavy goods vehicles to explore this decision. The increase in debt, which could reach $ 200 million, aims to supply Kraken growth plans, without covering daily costs.