Kraken Exchange Will List OmiseGo And PAX Gold Today

The San Francisco based Kraken exchange recently announced that it is listing OmiseGo (OMG) and PAX Gold (PAXG) as the new tokens on its platform. The altcoin news came officially after a blog post on October 28 showed that the exchange’s users will be able to deposit, withdraw and trade both assets starting October 29.

The Kraken exchange will also roll out trading pairs between OMG and PAXG and Bitcoin (BTC) and Ether (ETH), as well as with fiat currencies including the Euro and the US dollar.

As you probably know, OmiseGO is a finance-focused scaling network for Ethereum and is powered by the Ethereum-based OMG token. Right now, OMG has a market capitalization of approximately $150 million and is trading at around $1.06 with an 8% increase on the day.

Earlier this month, OmiseGo was in the news for becoming a member of the Universal Protocol Alliance – a coalition of blockchain and cryptocurrency-focused firms. This allowed it to incorporate the Universal Protocol Platform UPT utility token in its payment processing technology. With this, OmiseGO intends to let stakeholders use UP stablecoins for its financial services and tax collection – as well las collect transaction fees.

The other token that is getting listed on the Kraken exchange is PAXG, an Ethereum ERC-2o token which has a value that is tied to the real-time market value of physical gold. PAXG is currently trading at around $1,498 as data shows. Each of the PAXG tokens is reportedly backed by one fine troy ounce of the London Good Delivery gold that is stored in professional vault facilities in the city.

Data also shows that Kraken exchange is right now the 12th largest cryptocurrency exchange by 24-hour trading volume. It has a reported trade volume of $167.9 million over the last day. Earlier in October, the exchange announced that it made its WebSockets private Application Program Interface (API) available and added that the first two messages of this API went live to all of its clients after being in beta mode since the start of October.

According to Kraken exchange, the first two messages of its private API will list the client’s open orders and push the updates when new orders are created. The API will also be responsible for listing the last 50 trades on the exchange as well as sending updates when new trades execute.