• Kraken, the world’s largest digital asset exchange by euro volume, now supports POWR.
• Funding is already live and POWR will be paired with USD and EUR, with trading beginning on March 29.
• The POWR ERC-20 token is required to participate in the Powerledger platform.

The world’s largest digital asset exchange by euro volume and liquidity, Kraken, now supports the POWR token.

This Ethereum token acts as a licence required for businesses, such as energy utilities and renewable energy operators, to access Powerledger’s platform.

The move by Kraken to support POWR token comes less than a year after the Australian energy trading technology company migrated its own blockchain platform from Ethereum to a Solana-based blockchain.

“Powerledger being traded on one of the world’s largest digital asset exchanges like Kraken, which has millions of traders and institutions around the world, is welcome news,” said Powerledger Executive Chairman and co-founder Dr Jemma Green.

Founded in 2011, Kraken is one of the first exchanges to offer spot trading with margin, regulated derivatives and index services. Kraken is trusted by well over 8 million traders and institutions around the world.

Kraken is backed by investors including Tribe Capital, Hummingbird Ventures, Blockchain Capital and Digital Currency Group, among others.

POWR, which is traded through the Ethereum Smart Bond exchange, is an ERC-20 token that facilitates the Powerledger platform – an operating system for new energy markets that enable peer-to-peer energy trading. The POWR token is required to participate in the Powerledger platform and helps secure its various products, including energy trading, clean energy tracking, and verification.

It acts as a licence required for businesses such as energy utilities, companies committed to 100% renewable energy, and property developers to access Powerledger’s platform.

POWR token acts as a derivative for the underlying renewable energy supply on the Powerledger ecosystem.

Powerledger is a technology company that develops software for distributed and decentralised energy markets. It has developed a blockchain-based platform that enables the tracking and trading of energy, flexibility services and environmental commodities.

Funding is already live, and trading began on March 29 at approximately 15:30 UTC (11.30pm AWST).