USDT deposits and withdrawals now available on Optimism!

We’re thrilled to announce that Kraken now supports deposits and withdrawals of Tether (USDT) on Optimism!

Funding

USDT funding via Optimism is already live. You can transfer Tether (USDT) to your Kraken account by navigating to Funding, selecting USDT and choosing the desired deposit method (network) from the drop-down box: Optimism.

Got USDT on Optimism? ⤵️

Here’s what you need to know about the asset

Tether (USDT) was created in 2014 as the first stablecoin – a digital asset that aims to retain a consistent value. Tether is designed to be used as a means of converting cash to digital currency, and claims that all Tethers in circulation reflect the amount of their reserves in US dollars. By keeping reserves of cash and cash-equivalents in order to back the value of the stablecoin, Tether aims to keep a value close to 1 dollar at all times. Learn how to add USDT to your crypto portfolio with our Learn Center article How to Buy Tether (USDT).

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.