Kraken, a technology platform built on crypto that unlocks access and reduces inefficiencies to drive financial freedom, today unveils the launch of Krak: a next generation, all-in-one global money app.
The Krak app reimagines what constitutes money and value, empowering users to instantly transact across borders for almost no cost, while also earning competitive rewards on their account balances.
Built for a global, digital-first generation, the Krak app blends the freedom of crypto with the familiarity of everyday finance. Users can seamlessly manage over 300 different fiat and digital assets, making Krak app the ultimate portable financial command center built for the modern era.
“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,” said Arjun Sethi, Kraken’s co-CEO.
Powered by crypto innovation and strengthened by Kraken’s trusted network of banking relationships and payment partnerships, Krak challenges the outdated norms of legacy finance. Whether sending money to family abroad, growing balances, or managing spending on everyday purchases, users can rely on the Krak app as a seamless, all-in-one financial hub – giving them control of their assets, on their terms.
The Krak app at launch will feature:
• Peer-to-peer payments: Instantly and affordably send funds to other Krak app users across 110 different countries. Using Kraktags, a personalized payment ID, app users can seamlessly send and request payments across 300+ assets spanning crypto, stablecoins and fiat currencies (where available) without inserting bank details or crypto wallet addresses.
• Dedicated spend and earn accounts: Seamlessly make payments and earn rewards with no lock-up periods, no minimum contributions, or subscriptions needed. At launch, eligible users can earn up to 4.1% rewards on USDG stablecoin balances, as well as additional earning opportunities across 20+ digital assets up to 10%.
• What the future holds for Krak:
o The release of physical and virtual Krak cards, unlocking seamless spending at millions of merchants worldwide, both online and in-store, using fiat currencies and cryptoassets in the Krak app.
o A range of pay-in-advance services, ranging from lending to loans and credit card programs.
Sethi added: “We believe that basic financial services should be as universal and available as clean water. And that money should move as easily as information does. Krak is just the beginning. We see it as a foundation. A core building block for how people everywhere will manage their money in the future.”