Kraken Launches Krak, a Global Money App for Instant Cross-Border Transactions
Kraken launched a global money app, Krak, enabling instant cross-border transactions at minimal costs. Key features include:
- Support for over 300 assets, including cryptocurrencies, stablecoins, and fiat currencies.
- Peer-to-peer fund transfers available in 110 countries without needing bank details or wallet addresses.
- Dedicated spend and earn accounts allowing users to earn up to 4.1% on USDG stablecoin balances and up to 10% on other digital assets.
Kraken aims to modernize finance by integrating crypto technology with established banking relationships. Mark Greenberg, Kraken's global head of consumer product, emphasized the need for easier money movement and earning opportunities through crypto.