Digital Assets: Kraken Now Supports Trading with Centrifuge (CFG)

The team at digital asset firm Kraken is pleased to confirm that their crypto trading platform now supports CFG.

Funding and Trading

You may now add CFG to your Kraken account “by navigating to Funding, selecting the asset, and hitting Deposit.” Trading will “begin April 29 at approximately 18H30 UTC,” the company confirmed.

According to Kraken, here’s what you need to know:

  • Ticker CFG
  • Tradeable against EUR, USD
  • Price precision 4 decimal places
  • Minimum deposit 0.18 CFG
  • Deposit confirmations required 25 (~5 minutes)
  • Not available in United States, Canada, Japan
  • Services available Kraken, the Kraken Pro interface

What is CFG?

As explained in a blog post, Centrifuge is “a decentralized finance (DeFi) lending protocol that aims to make credit more accessible to small businesses, while also providing a stable yield for investors by opening pooled liquidity to the world of traditional finance.”

As noted in the update, CFG, Centrifuge’s utility token, “is essential to keeping the system secure and is used to pay transaction fees and for holders to help govern its software by voting on potential upgrades to it.”

If you would like to find out more about how Centrifuge helps small businesses and traditional investors get started with Decentralized Finance (DeFi), then you may review Kraken Learn Center’s article What is Centrifuge?

While commenting on whether Kraken plans to list more assets, the company (like always), said it would be. However, their policy is “to never reveal any details until shortly before launch – not even which assets we are considering.”

As mentioned in a blog post, all of Kraken’s listed tokens “are available on [their official] website, and all future tokens will be announced on Kraken’s blog and social media profiles.”

Their client engagement specialists “cannot answer any questions about which assets we may be listing in the future,” the team at Kraken clarified.

As noted in the announcement, there is “no guarantee that a limit order will execute. There is also no guarantee of executing at a certain price for a market order.” The availability and liquidity of the particular digital asset “will impact these types of orders.”

Listing an asset or token for trade ‘is not a recommendation to buy, sell, or participate in the associated network” and you must do your own research and invest “at your own risk.”

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