All first-time cash deposits will result in a temporary (72 hour) withdrawal hold on the account.
The Silvergate Exchange Network (SEN) represents an internal Silvergate bank network, allowing fast and free USD transfers between Silvergate account holders participating in it. Kraken is part of the network, providing near-instant funding for our eligible clients.
- Your Kraken account must be verified to the Pro business level.
- You must have a SEN Account open at Silvergate Bank.
- Your SEN Account must be under the same legal name as your Kraken account.
- In addition to OFAC-limited jurisdictions, clients based in Texas, Belarus, Central African Republic, Congo (Democratic Republic), Iraq, Lebanon, Libya, Myanmar (Burma), Nicaragua, Palestine, Russia, Somalia, South Sudan, Sudan, Venezuela, Yemen and Zimbabwe are not eligible for this service.
How to apply?
- On the funding application form select USD Funding Application - Silvergate Bank
- For the type of request, select Silvergate Exchange Network (SEN) Activation.
- Fill in the remaining questions as they relate to your account and select submit.
Once approved, you will see instructions on your account under the Funding > Deposit > Silvergate Exchange Network page for how to integrate your SEN account from Silvergate bank account into your Kraken account.