Kraken partners with Mesh to simplify crypto deposits

Kraken’s updated deposit process now offers an alternative to the traditional method of copying and pasting wallet addresses. Users can select the 'Another exchange' option after choosing an asset and network, initiating a secure Mesh window to connect their external exchange account. The process involves signing in, selecting an amount, and confirming the transfer, which is executed on-chain to Kraken’s deposit address. This reduces the risk of errors associated with manual address entry.

The integration with Mesh, a crypto payments network, enables seamless transfers between exchanges. Mesh acts as a secure intermediary, connecting Kraken to supported platforms such as Coinbase, with additional exchanges expected to be added. Users retain control over their login credentials, as Kraken does not store or access passwords for external exchanges. Two-factor authentication requirements from the originating platform are also respected during the process.

A notable feature of this integration is SmartFunding, which allows users to cover any shortfall in their desired deposit amount by converting other holdings on the same exchange. For example, depositing 10,000 USDC can be completed even if only 7,000 USDC is available, with the remaining 3,000 USDC converted automatically. Fees for this conversion, if applicable, are determined by the originating exchange and not Kraken.

This new deposit option is available immediately on Kraken’s website, with mobile support planned for the future. Kraken does not charge a fee for this service, though users may incur withdrawal or network fees from their originating exchange. For users whose exchanges are not yet supported, the traditional deposit address method remains available. Detailed instructions and troubleshooting guidance are provided in Kraken’s support article on depositing from another exchange.