Krak Is Here: Kraken Launches New All-in-One Global Money App
CHEYENNE, Wyo.--(BUSINESS WIRE)--Kraken, a technology platform built on crypto that unlocks access and reduces inefficiencies to drive financial freedom, today unveils the launch of Krak: a next generation, all-in-one global money app. The Krak app reimagines what constitutes money and value, empowering users to instantly transact across borders for almost no cost, while also earning competitive rewards on their account balances.
'We built and launched the Krak app because the financial system has been stuck in the past, and we think it's time to do something about it," said Arjun Sethi, Kraken's co-CEO.
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Built for a global, digital-first generation, the Krak app blends the freedom of crypto with the familiarity of everyday finance. Users can seamlessly manage over 300 different fiat and digital assets, making Krak app the ultimate portable financial command center built for the modern era.
'We built and launched the Krak app because the financial system has been stuck in the past, and we think it's time to do something about it. With Krak, we're taking a bold step toward rebuilding what we consider to be the most important layer of the global economy: How people move and use money,' said Arjun Sethi, Kraken's co-CEO.
Powered by crypto innovation and strengthened by Kraken's trusted network of banking relationships and payment partnerships, Krak challenges the outdated norms of legacy finance. Whether sending money to family abroad, growing balances, or managing spending on everyday purchases, users can rely on the Krak app as a seamless, all-in-one financial hub – giving them control of their assets, on their terms.
The Krak app at launch will feature:
Peer-to-peer payments: Instantly and affordably send funds to other Krak app users across 110 different countries. Using Kraktags, a personalized payment ID, app users can seamlessly send and request payments across 300+ assets spanning crypto, stablecoins and fiat currencies (where available) without inserting bank details or crypto wallet addresses.
Dedicated spend and earn accounts: Seamlessly make payments and earn rewards with no lock-up periods, no minimum contributions, or subscriptions needed. At launch, eligible users can earn up to 4.1% rewards on USDG stablecoin balances, as well as additional earning opportunities across 20+ digital assets up to 10%.
What the future holds for Krak:
The release of physical and virtual Krak cards, unlocking seamless spending at millions of merchants worldwide, both online and in-store, using fiat currencies and cryptoassets in the Krak app.
A range of pay-in-advance services, ranging from lending to loans and credit card programs.
Sethi added: 'We believe that basic financial services should be universally accessible, and that money should move as easily as information does. Krak is just the beginning. We see it as a foundation. A core building block for how people everywhere will manage their money in the future.'
For more information on Kraken's new Krak app, please visit our dedicated landing page. The new Krak app is also available to download on Android at the Google Play store, or on iOS at the Apple App Store.
About Kraken
Kraken is one of the world's longest-standing and most secure crypto platforms. Our mission is to accelerate the global adoption of crypto, so that everyone can achieve financial freedom and inclusion. Globally, Kraken clients trade more than 300 digital assets and 6 different national currencies, including GBP, EUR, USD, CAD, CHF, and AUD.
Founded in 2011, Kraken was among the first to offer spot trading with margin, parachain auctions, staking, regulated derivatives and index services under one roof. With millions of individuals, traders and institutions around the world, Kraken offers professional 24/7/365 client support along with one of the fastest, most performant trading platforms available. Kraken has set the industry standard for transparency and client trust, and was the first crypto platform to conduct Proof of Reserves.
Kraken markets can be monitored and traded via the web or through the Kraken and Kraken Pro iOS and Android apps.
For more information about Kraken, please visit www.kraken.com.
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