In Australia, Beaufort Fiduciaries Pty Ltd (ACN 162 139 871, AFSL No. 545124) provides wholesale clients with access to derivatives where the underlying assets are digital assets. Derivatives are complex, regulated financial products that are difficult to understand and may not be suitable for inexperienced investors. For eligibility, terms and conditions click here. Krak Pay is offered by Bit Trade Australia Pty Ltd (ACN 163 237 634), Authorised Representative of Flexewallet Pty Ltd (AFSL 448066). This information is general in nature and does not take into account your personal objectives, financial situation or needs. You should consider whether it is appropriate for you and read the relevant disclosure documents before making any decision.

Margin conversions for EEA clients

Last updated: January 20, 2026

We’re updating how margin trading works for EEA clients on cash pairs. Instead of using cash margin extensions, trades will now be funded using stablecoins.

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    For USD-quoted pairs, margin will be extended in USDC.

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    For EUR-quoted pairs, margin will be extended in EURC.

When placing a trade on a cash pair like BTC/EUR, your margin will automatically be converted from EURC to EUR (at a 1:1 rate and with no fees). You may still see and trade on the BTC/EUR orderbook as usual, as Kraken handles the conversion automatically.

Your profit or loss will be realized as normal, where the proceeds of the trade will be auto-converted to close the stablecoin margin extension as needed.

No action is required, Kraken will facilitate these conversions automatically as new orders are placed.

Existing positions will not be impacted. If you prefer, you can also trade directly on the stablecoin pairs (for example, BTC/USDC instead of BTC/USD).

No, there are no fees for Kraken providing this conversion. Any margin fees will be charged based on the stablecoin rate at the time of execution.

Trades involving a conversion will show this in your transaction details.

You’ll see the loan currency (USDC or EURC) and the loan amount for each trade.

Open positions will also show that they’re funded using stablecoins.

This change allows Kraken to ensure consistency across trading pairs and compliance with local EEA requirements.

As part of this update, margin trading on cash pairs other than USD and EUR will no longer be available for EEA clients.

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