Kraken Unveils Krak App for Seamless Global Payments and Crypto Transfers

Crypto exchange Kraken has introduced Krak, an all-in-one financial app aimed at transforming cross-border payments and digital asset management. The platform targets a digitally savvy audience, combining crypto capabilities with familiar financial tools to let users handle over 300 fiat and digital currencies from a single interface.

Co-CEO Arjun Sethi described the launch as a significant step toward modernizing global finance. He explained that Krak was developed to improve the outdated structure of today’s financial system. Its goal is to rebuild the foundational layer that powers everyday money movement around the world.

Kraken Expands Cross-Border Payments

At its core, Krak allows users to send and receive funds across 110 countries with ease. Instead of relying on traditional bank details or wallet addresses, transfers are made using Kraktags, unique IDs assigned to each user. These transfers support more than 300 different currencies, including fiat, crypto, and stablecoins, with minimal fees and reduced friction.

Beyond payments, the app helps users manage their money smartly with separate spending and savings accounts. Additionally, it offers returns on idle balances without lock-in periods, minimum thresholds, or paid subscriptions. Eligible customers can earn up to 4.1% on USDG (a stablecoin) and up to 10% on a range of over 20 supported digital tokens.

Underpinning these features is Kraken’s trusted infrastructure. The app is built on Kraken’s secure crypto foundation and supported by its network of global financial partners. This ensures a smooth, user-friendly experience, whether managing household expenses or sending money to friends and family abroad.

Plans for Krak

Plans for Krak include the rollout of both virtual and physical payment cards, enabling users to spend directly from their accounts at millions of merchants around the world. These cards will support both fiat and crypto payments.

Beyond cards, Kraken is also working on a broader suite of financial products under the Krak brand, such as lending options, credit card services, and pay-in-advance features.

According to Sethi, Krak represents more than just a product.

“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,” he stated.

The post Kraken Unveils Krak App for Seamless Global Payments and Crypto Transfers appeared first on Cointab.