For information on changes for our US clients, please visit our Support Center article.

Due to increased demand, account verification may be delayed. Please avoid submitting multiple requests, and for best results, review our document requirements beforehand.
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Overview of Changes for German Clients
The exact service start and other dates may vary. Clients will be contacted with confirmation of the dates.
The following information only impacts clients in Germany, all other supported regions are unaffected.
In an effort to provide German clients with a localized product offering, whilst maintaining their access to superior user experience, market leading liquidity, and client support, we require existing German clients to re-verify their accounts.
How does this impact me?
German clients who wish to continue using crypto and fiat (bank deposits and withdrawals) services will be required to consent to Payward Ireland Limited and DLT Finance processing their personal data for the purpose of complying with GDPR. As a legal requirement, clients will need to re-verify their identity.
German clients who have provided consent will be able to continue using Kraken services with no interruption. On July 10, 2024, your legal counterparties will become Payward Ireland Limited and DLT Finance. Based on your consent, we will share account information after the re-verification process. Client crypto and fiat assets will be safely held in Payward Ireland Limited accounts and DLT Custody GmbH, respectively.
German clients who have not provided consent or updated their information by the deadline will have trading restricted, positions closed, and will need to withdraw their assets to an external wallet or platform before July 10, 2024.
Clients who do not wish to reverify their accounts and who have failed to withdraw their assets by July 10, 2024, will need to contact Kraken Support to close their Kraken account.
What is changing?
From July 10, 2024, verified clients will face BaFin regulated counterparties (DLT Securities GmbH and DLT Custody GmbH) for crypto services and a Central Bank of Ireland (CBI) regulated counterparty (Payward Ireland Limited) for fiat services (bank deposits and withdrawals).
Overall, the experience for our clients will remain familiar, utilizing the same Kraken interfaces and providing access to services currently available to German clients.
  • User Interfaces: clients will continue to access the same interfaces they are used to.
  • Spot Trading: all Recurring buys and Spot orders will remain open.
  • Staking: supported staked assets will be included in the Opt-in Rewards program and continue to earn the same reward rates.
  • German language support: we are excited to offer localized products in German, as well as German communication and support.
There will be additional changes to the experience as a result of the re-verification and regulatory requirements:
  1. 1
    Asset Support: support for most assets will be retained. In the case of unsupported assets, trading and staking services will no longer be available, however, we will continuously explore adding new assets for our German clients.
  2. 2
    Fiat Funding: fiat deposit and withdrawal bank account details will change in line with the guidance here.
  3. 3
    Opt-in Rewards: Opt-in Rewards will no longer be available for fiat or stablecoins. Balances will be opted-out and returned to clients’ accounts.
  4. 4
    Margin Trading: fiat and Stablecoin margin lending will be discontinued. Related orders and positions will need to be closed. Crypto asset margin lending will continue and related orders and positions will remain open.
  5. 5
    NFTs will no longer be available to trade or deposit and will be set to withdraw only. Parachain auctions will no longer be available.
Derivatives
From July 10, 2024, clients will be able to trade MiFID II regulated derivatives, for detailed information, please see here.
  1. 1
    All Kraken Derivatives clients will be required to complete an Appropriateness Assessment, which will assess the appropriateness of the client to trade derivatives.
  2. 2
    As part of increased investor protections, derivatives leverage for retail clients will be 2x and 4x for opening and maintenance leverage, respectively. Professional clients will have differing leverage limits based on the margin schedule defined on a per product basis.
  3. 3
    Verified Retail clients will be required to have sufficient collateral in their accounts to cover the 4x maintenance margin limit from July 10, 2024 or positions will be closed.
  4. 4
    Kraken Derivatives will have enhanced investor protections through ensuring client appropriateness, prominent disclosures, and improved product governance.
  5. 5
    Clients who do not complete the new derivatives verification process by July 10, 2024 will have all positions set to reduce only.
What do I need to do?
Before July 10, 2024, clients who wish to continue accessing services must do the following:
  1. 1
    Once prompted, accept the new terms of service and agree to the GDPR notice.
  2. 2
    Reverify their account, find out how here.
  3. 3
    Withdraw or exchange any unsupported assets, which from July 10, 2024 will be set to withdrawal only mode.
  4. 4
    If intending to trade derivatives, accept the new Terms of Service and complete a appropriateness test.
From July 10, 2024, verified clients will need to:
  1. 1
    Update fiat deposit and withdrawal addresses.
  2. 2
    Withdraw any remaining unsupported assets, which will be set to withdrawal-only.
Which entities will be providing services?
Changes to Crypto Services
DLT Securities GmbH and DLT Custody GmbH have been authorized by BaFin to provide digital asset brokerage and custodian services. The Terms of Service can be found here.
Changes to Fiat Services
Payward Ireland Limited, trading as Kraken, is authorized by the Central Bank of Ireland to provide e-money services throughout the European Economic Area. This means that Kraken looks forward to continuing to expand our cash funding options to make your experience better than ever before. For more information on e-money services and what it means for you, please see here. From July 10, 2024*, you will contract with Payward Ireland Limited for fiat payment services. In order to facilitate your continued use of fiat payment services (bank deposits and withdrawals), Payward Ireland Limited will process your personal data as data controllers in line with Kraken’s Privacy Notice.
*The exact service start and other dates may vary. Clients will be contacted with confirmation of the dates.
If you have any questions regarding this process please don't hesitate to contact Kraken Support who are available to help 24/7/365.