xChange.bg vs Kraken: fees, licence, IBAN and support compared

Kraken and xChange.bg both let people in Bulgaria move between euro and USDC, and both can send euro to someone else's bank account. They get there differently. Kraken is a full crypto exchange with a payments app, Krak, and a card. xChange.bg gives you EUR and USD account details in your own name and turns incoming money into stablecoins in a wallet you control. Facts were checked on 16 September 2026. For a full profile, read our Kraken review.

Who each service is for

Kraken is operated in Europe by the Payward group from Dublin. In its notification to the Bulgarian FSC, Kraken reported about 32,000 clients in Bulgaria as of the end of March 2025. It suits active traders who want low fees on Kraken Pro, crypto-to-crypto trading, a debit card and 24/7 support in English, and who are comfortable with the exchange holding their assets.

xChange.bg is run by Global Xchange JSC in Sofia, the team behind a Bulgarian crypto exchange since 2017, relaunched in 2026. It gives a EUR IBAN and USD account details in your own name. Money that arrives becomes USDC in a self-custody wallet, and money that leaves goes to any bank. It suits freelancers, small businesses and individuals who get paid by bank transfer, want the stablecoins in their own wallet and prefer to deal with a team in Bulgarian.

The differences that matter

Licence. Kraken's crypto services come from Payward Europe Solutions Limited, authorised under MiCA by the Central Bank of Ireland (C468360). ESMA's register lists an authorisation date of 25 June 2025 and a passport to 30 EEA states, Bulgaria included. E-money services come from Payward Ireland Limited, also authorised by the Central Bank of Ireland. xChange.bg is a technology provider: accounts and conversions come from the regulated partner Bridge, a Stripe company.

Bank details. Krak lets eligible EEA users receive euro to account details with an IBAN and BIC. When Kraken launched dedicated Virtual IBANs on 7 May 2026, the announcement named Latvia, Greece, Croatia and Hungary, and did not say whether the IBAN is in the customer's name. For Bulgaria that detail is not published. xChange.bg gives a EUR IBAN and USD account details in your own name.

Custody. Kraken holds client crypto-assets under its authorisation for custody and administration. xChange.bg keeps USDC in a self-custody wallet: you hold the keys and xChange.bg cannot freeze your balance. Self-custody also means that keeping access to your account is your responsibility.

Stablecoins. Kraken's EEA page, updated 13 April 2026, says USDT, DAI, PYUSD, RLUSD and several other stablecoins cannot be traded by EEA clients and can only be deposited or withdrawn. Kraken offers USDC; EURC support for the EEA is not published. xChange.bg works with USDC.

Payouts to others. Both can do it. Krak sends euro by SEPA to a recipient's IBAN for free, with a EUR 2 minimum. xChange.bg pays out to a recipient's bank at 1.25%; see send to bank for details.

Language. Kraken's website has versions in Romanian, Greek, Polish, Czech and other languages, but not Bulgarian. Its support page says the team works 24/7 in a wide range of languages without listing them. xChange.bg supports clients in Bulgarian and English from 66 Vitosha Blvd, Sofia.

Where Kraken is stronger

• Lower trading fees. Kraken Pro charges 0.20% maker and taker on stablecoin and FX pairs at the lowest volume tier, falling with volume.
• Free SEPA deposits from all listed providers, with a EUR 1 minimum.
• A card today. The Kraken Card is a Mastercard debit card for verified clients in the UK and EEA. Kraken says it has no card fees and pays up to 2% cashback.
• Free SEPA sends to other people through Krak.
• 24/7 support every day of the year, by Kraken's own description.
• A MiCA licence from the Central Bank of Ireland, passported to Bulgaria.

Cost example

Both sides publish fees, so here is EUR 1,000 turned into USDC and then EUR 1,000 worth of USDC paid out to a bank. Kraken figures exclude the spread on instant trades and any price difference on Kraken Pro, which Kraken does not publish as a figure.

On these published numbers Kraken Pro is clearly cheaper. What the xChange.bg fee buys is different: the IBAN in your name, conversion that happens as money arrives, and USDC that lands in your own wallet rather than on an exchange. Moving USDC off Kraken to a wallet you control would add a withdrawal fee that is not included above. Try other amounts in the stablecoin fee calculator.

How to move from Kraken to xChange.bg

1. Open an xChange.bg account online and complete verification. You get a EUR IBAN, USD account details and a self-custody wallet.
2. Choose a network. The xChange.bg wallet runs on Solana, Ethereum, Base, Arbitrum, Polygon and Optimism. Pick one that Kraken also supports for withdrawing your USDC.
3. Add the address as a withdrawal address in Kraken and check it with the crypto address checker.
4. Send a small test amount, confirm it arrives, then send the rest. Receiving on-chain costs the network fee only.
5. Update your payers. Share your new IBAN with clients or your employer so future euro arrive as stablecoins.
6. Export your Kraken history for your records and your tax return.

If you use Kraken for other crypto-assets or for its card, you can keep both services side by side.