Blockchain and Crypto, Member Exclusive

MVB Bank partners with Kraken to provide USD funding option

  • Kraken, a cryptocurrency exchange, announced its new partnership with MVB Bank on July 7th.
  • U.S. Kraken customers will now be able to fund their accounts through direct wire transfers from their MVB accounts.
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MVB Bank partners with Kraken to provide USD funding option

Cryptocurrency was hailed for its disruption in payments, but its integration into mainstream use has been slow. Inadequate background checks for new users have been major concerns for traditional banks. Few institutions allow their customers to use their bank accounts to directly fund cryptocurrency purchases.

Because of banks’ reluctance to fund crypto exchanges, people who want to trade, buy, or sell crypto assets usually have to do so through offshore funding and alternative methods.

 


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