Kraken launches VeChain trading as platform expands asset list

The company confirmed in a statement on January 2 that the token is now live for funding and trading. Customers can add VET to their accounts through the "Funding" tab by selecting the asset and choosing "Deposit".

However, Kraken issued a security warning to users, stating that deposits must be sent using networks specifically supported by the exchange. The firm cautioned that any tokens sent via unsupported networks would be permanently lost.

VeChain is a blockchain ecosystem designed to connect digital technology with real-world actions to track environmental and logistical impacts. The VET token serves as the native asset of the VeChainThor network, facilitating value transfer and smart contract operations.

While spot trading is now active, the company noted that availability through the Kraken App and "Instant Buy" feature will only be enabled once sufficient market liquidity is established. This occurs when enough buyers and sellers are present to match orders efficiently.

The exchange added that certain geographic restrictions may apply to the listing, depending on local regulatory requirements.

Kraken maintained its strict policy regarding future listings, stating it does not disclose details of potential new assets before their official launch. The company confirmed that its client engagement specialists are unable to answer questions regarding which cryptocurrencies may be added next.

The announcement included a standard risk disclaimer, reminding investors that cryptoassets are often unregulated and volatile. The company stressed that its materials do not constitute investment advice and that users may be liable for tax on any returns.

The Recap

• Kraken has made VET available for trading on platform.
• Users must deposit VET using Kraken-supported networks only.
• App and Instant Buy will enable trading once liquidity conditions met.