Kraken just announced on their blog they will be supporting both Bitcoin Core and Bitcoin Unlimited in the event of a Bitcoin hard fork next week.

On August 1 2017 at 12:20 pm UTC a small community of Bitcoin users is planning a hard fork from Bitcoin to an alternative protocol called “Bitcoin Cash” (BCH). Bitcoin Cash is expected to be a minority chain, with the vast majority of the Bitcoin community remaining on the chain that activates Segregated Witness and, later on, a possible increase to 2MB blocks.

Although the Bitcoin Cash fork is expected to be minor, it may be successful. Provided that unforeseen circumstances do not make it prohibitively unsafe or difficult for us to do so, Kraken will support Bitcoin Cash as follows:

  1. All Kraken clients holding Bitcoin (XBT) balances at the time of the fork will be credited with an equal amount of Bitcoin Cash (BCH)
  2. All Kraken clients borrowing Bitcoin (XBT) for margin trades at the time of the fork will be debited an equal amount of Bitcoin Cash (BCH)
  3. After the fork Kraken will enable BCH deposits and withdrawals (with replay protection enabled)
  4. After the fork Kraken will enable BCH trading in the following pairs: BCH/XBT, BCH/USD, BCH/EUR
  5. Kraken-owned Cryptowat.ch will support BCH charts and trading
  6. BCH margin trading may be added at a later date if it survives and trade volume is robust

What Kraken Clients Need to Know about the Hard Fork

Bitcoin funding will be halted at 11 am UTC on August 1 – do not deposit during the fork
Kraken will halt XBT funding at 11 am UTC and safely secure funds during the fork. Funding will be re-enabled after the outcome of the fork is clear and the network is safe.

Trading will continue across the fork
XBT trading is expected to continue as normal across the fork, however there may be a brief interruption for the listing of new pairs and adjustment of balances.

To read the rest of the Blog, and to see how trading and margins will be affected, click here.