Kraken, one of the world’s largest cryptocurrency exchanges, has officially launched ‘Krak’, a blockchain-powered global money app designed to transform international payments, everyday finance, and crypto utility. The app aims to bridge the gap between traditional finance and digital assets, offering seamless, near-zero-cost transfers across 110 countries using over 300 assets.
Krak: Reimagining Global Transactions
The Krak app blends crypto rails with Kraken’s extensive banking relationships and payment infrastructure, eliminating outdated financial barriers. Unlike conventional banking systems, users can send money globally without the need for account numbers or crypto wallet addresses, removing friction from cross-border payments.
Krak supports 300+ assets, including cryptocurrencies, stablecoins, and fiat currencies, and allows instant peer-to-peer transactions.
The app reflects Kraken’s broader mission to modernize financial access and offer secure, flexible, and user-centric alternatives to legacy banking systems.
Earn While You Use: Rewards and Yield Opportunities
Krak doesn’t stop at payments. It offers dedicated “spend and earn” accounts, enabling users to earn up to 4.1% rewards on balances held in USDG, the dollar-pegged stablecoin from the Global Dollar Network, of which Kraken is a founding member.
Users can also earn up to 10% yield on over 20 digital assets, providing both crypto enthusiasts and fiat users new ways to grow their holdings.
This dual utility—spending with zero hassle and earning competitive yields—positions Krak as a super app for the next generation of global finance.
Solving the Real Problem of Legacy Banking
Mark Greenberg, Kraken’s global head of consumer product, was candid in his remarks:
“Banking sucks… it’s still too hard to move money, to send it, to spend it, to move it across borders, to earn off of it in a reasonable way. And crypto has always been a big part of the answer.”
The Krak app is Kraken’s response to outdated financial systems—an all-in-one solution combining speed, security, simplicity, and real value for users around the world.
A Game Changer in Global Finance
With real-time global reach, multi-asset compatibility, and yield-generation features, Krak is more than just a payment tool—it’s a financial operating system for the digital age. As crypto adoption continues to grow, apps like Krak could lead the way in redefining how people spend, save, and earn across borders.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.