From October 29, 2019, Kraken users will be able to withdraw, deposit, and trade OMG and PAXG cryptocurrencies.
According to sources close to the matter, the exchange will roll a trading pair between OMG and PAXG and Bitcoin (BTC), and Ether (ETH).
The trading platform will also roll out trading pairs with major Fiji currencies such as the Euro and the US Dollar.
Founded in 2017, Bangkok-based OmiseGO is a finance-geared scaling platform for the Ethereum blockchain which seeks to enable people to securely offer and access financial services.
The altcoin company has the vision to make the exchange and expenditure of digital assets a hassle-free affair for which it aims to develop a decentralized peer-to-peer, instant blockchain network that will allow people to send and receive digital assets across the globe.
As reported by BTCManager on October 9, 2019, OmiseGO partnered with Hydro Labs, an open-source distributed laser technology (DLT) project to allow the latter to leverage its plasma transaction infrastructure LIA was used to reduce congestion disorders, which have recently suffered from the Ethereum blockchain.
At press time, OMG sits at the 41st rank on the CoinMarketCap crypto table with a market cap of over $ 144 million, an increase of nearly 2.5 percent in the last 24 hours.
While OMG Kraken will give users the option to add a new altcoin to their digital asset portfolio, physical gold-backed PAXG will enable them to diversify their crypto portfolio by adding more secure and less-volatile digital assets.
Earlier in September, Paxos Trust Company announced the launch of PAX Gold – a cryptocurrency backed by physical gold. Paxos claims that each PAXG token is backed by a fine Troy ounce of London Good Delivery Gold.
Furthermore, unlike other dubious firms with fixed currency products, Paxos is a trusted name in the crypto space as it is regulated by the New York Department of Financial Services (NYFDS). At the time of writing, PAX trades at $ 510.