Kraken has announced a new initiative for clients receiving funds from FTX on its platform. These clients will be eligible for fee credits, allowing them to trade up to $50,000 in cryptocurrency without incurring trading fees.

Kraken Partners to Distribute FTX Funds

In December, Kraken was chosen as a partner for distributing funds to former FTX clients. The company aims to reduce the cost of converting these US dollar payouts into cryptocurrencies.

Eligible clients will receive up to $105 in Kraken trading fee credits (KFEE), based on the amount of funds received. These credits will be available on Kraken Pro and credited upon receipt of the FTX distribution.