Kraken has launched Krak, an ambitious new global money app that fuses the borderless capabilities of crypto with everyday financial functionality.
Kraken unveils Krak global money app
In what the company describes as a move to “reimagine what constitutes money and value,” Krak enables users to transact instantly and at minimal cost worldwide, while earning competitive rewards on their holdings.
Arjun Sethi, Kraken’s co-CEO, said the financial system has long been “stuck in the past”.
With it, the firm seeks to build what it considers the “most important layer of the global economy: how people move and use money”.
Krak
Built for a digital-first generation, Krak allows users to manage over 300 fiat and digital assets in a single app, effectively becoming a personal financial command centre.
Its peer-to-peer payment feature spans 110 countries, using “Kraktags” – personalised payment IDs that eliminate the need for bank details or crypto wallet addresses.
This design simplifies cross-border payments and broadens utility for both crypto-native and fiat-focused users.
At launch, it includes dedicated spend and earn accounts, offering rewards without lock-ups or minimum contributions.
Users can earn up to 4.1% on USDG stablecoin balances and up to 10% on select digital assets, making the app attractive for those seeking yield without the complexity of staking or subscription models.
Virtual Krak Card
Kraken’s roadmap for Krak includes releasing physical and virtual Krak cards to enable seamless spending at merchants worldwide, supporting both fiat and crypto transactions.
Future features are set to include lending services, credit card programmes, and other pay-in-advance products to extend Krak’s functionality as a comprehensive financial ecosystem.
Sethi emphasised Kraken’s vision to make financial services universally accessible, asserting: “Money should move as easily as information does. Krak is just the beginning.”
The launch signals Kraken’s intent to challenge entrenched legacy finance by combining crypto innovation with familiar banking rails.
If successful, Krak could reshape how consumers perceive, store, spend, and earn money in an increasingly borderless digital economy.
The Krak app is now available for download on Android via Google Play and on iOS through the Apple App Store.
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