Kraken has launched Krak, a next-gen mobile app designed to tackle outdated financial systems by enabling instant, low-cost cross-border transactions. The Wyoming-based fintech firm aims to serve both unbanked populations and fee-weary users in advanced economies.
Supporting over 300 assets, Krak allows peer-to-peer payments, offers up to 4% rewards on USDG balances, and plans to introduce physical cards. Co-CEO Arjun Sethi described the app as a “core building block” for modern finance. Kraken recently gained Restricted Dealer status in Canada after surpassing $2 billion in assets under custody, further expanding its regulatory presence in North America.
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