Kraken has launched Krak, an all-in-one global money app designed to simplify how users manage and move money across borders.
The platform blends the familiarity of traditional finance with the flexibility of digital assets, enabling users to transact instantly for minimal cost while earning competitive rewards on their account balances.
Built for a digital-first, global generation, the Krak app allows users to manage over 300 fiat and digital assets in a single interface, creating a portable financial command centre.
Kraken co-CEO Arjun Sethi said, “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.”
At launch, Krak features peer-to-peer payments allowing users to send funds across 110 countries instantly using Kraktags, a personalised payment ID that avoids the need to share bank details or digital asset wallet addresses.
The app also introduces spend and earn accounts, enabling payments and rewards with no lock-up periods or minimum contributions. Eligible users can earn up to 4.1% rewards on USDG stablecoin balances and up to 10% on over 20 other digital assets.
Future plans for Krak include the release of physical and virtual Krak cards, allowing seamless spending across millions of merchants globally, both online and in-store.
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