Latest news with #Krak
Yahoo
2 hours ago
- Business
- Yahoo
Kraken Launches Crypto's Attempt at a Venmo-Killer
Kraken's rising from the decentralized deep to capsize a big ship: traditional finance. The crypto platform launched a peer-to-peer payments app yesterday that lets users instantly send 300+ crypto tokens, stablecoins and fiat currencies to friends and family in more than 100 countries. Anyone who has had to split a check with new hostel friends knows that rivals Venmo and Zelle only support payments between US users. Kraken's app, called Krak, also doesn't charge fees for cross-border payments or transfers from one currency to another, setting it apart from PayPal. Kraken's app is meant to serve as an entry point to digital assets for the crypto-cautious, with rewards of up to 10% on Krak account balances to entice new users. Krak is also part of Kraken's push into traditional finance to diversify revenue ahead of a planned IPO. READ ALSO: Dwindling IPOs Reward Investors With Return Bonanza and After Reclaiming 'World's Most Valuable Company' Crown, Nvidia Gilds the Tiara Those are the words of Kraken exec Mark Greenberg as Kraken and other crypto companies try to put their blockchain-backed spins on traditional finance: Kraken debuted tokens that represent US equities for non-US users, letting them trade representations of stocks like Nvidia and Tesla over the blockchain. It also bought futures-trading platform NinjaTrader this spring for $1.5 billion. Crypto exchange Coinbase teamed up with Shopify to launch a payments platform (creatively named Coinbase Payments) that lets merchants accept payments using the stablecoin USDC. The issuer of USDC, Circle, also introduced a cross-border payments network this spring. At the same time, TradFi isn't going down without a fight: JPMorgan Chase, Citigroup and Wells Fargo are reportedly exploring the creation of a joint stablecoin, and brokerages like Morgan Stanley and Charles Schwab are working on adding crypto trading. Hot Coin Summer: The line between traditional and digital finance has grown blurry in the Trump era as regulatory actions against crypto companies have eased. In March, the SEC dropped a lawsuit accusing Kraken of operating an unregistered securities exchange, following the agency's abandonment of a similar suit against rival Coinbase. Both sides of the finance world have read the new room and aren't missing the opportunity to try to eat each other's lunch. This post first appeared on The Daily Upside. To receive delivering razor sharp analysis and perspective on all things finance, economics, and markets, subscribe to our free The Daily Upside newsletter. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
21 hours ago
- Business
- Business Wire
Krak Is Here: Kraken Launches New All-in-One Global Money App
CHEYENNE, Wyo.--(BUSINESS WIRE)--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. '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," said Arjun Sethi, Kraken's co-CEO. Share 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: 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. 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 universally accessible, 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.' For more information on Kraken's new Krak app, please visit our dedicated landing page. The new Krak app is also available to download on Android at the Google Play store, or on iOS at the Apple App Store. About Kraken Kraken is one of the world's longest-standing and most secure crypto platforms. Our mission is to accelerate the global adoption of crypto, so that everyone can achieve financial freedom and inclusion. Globally, Kraken clients trade more than 300 digital assets and 6 different national currencies, including GBP, EUR, USD, CAD, CHF, and AUD. Founded in 2011, Kraken was among the first to offer spot trading with margin, parachain auctions, staking, regulated derivatives and index services under one roof. With millions of individuals, traders and institutions around the world, Kraken offers professional 24/7/365 client support along with one of the fastest, most performant trading platforms available. Kraken has set the industry standard for transparency and client trust, and was the first crypto platform to conduct Proof of Reserves. Kraken markets can be monitored and traded via the web or through the Kraken and Kraken Pro iOS and Android apps. For more information about Kraken, please visit
Yahoo
a day ago
- Business
- Yahoo
PayPal, Block slip after Kraken launches peer-to-peer payments app
As previously reported, Kraken co-CEO Arjun Sethi announced in a blog post earlier that the company has launched its own peer-to-peer payments app, Krak. 'Krak is an all-in-one global money app built from the ground up on crypto infrastructure. It blends the familiarity of traditional finance with the speed, openness and flexibility of modern blockchain networks. Krak isn't just another wallet or payments tool. It's a full-stack rethink of how money should work,' Sethi wrote. In Thursday morning trading, shares of PayPal (PYPL) and Block (XYZ) are each down about 1%, while Visa (V) and MasterCard (MA) are both down fractionally as well. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See the top stocks recommended by analysts >> Read More on PYPL: Disclaimer & DisclosureReport an Issue Barclays Bans Crypto Credit Card Purchases, but at What Cost? PayPal announces multi-year agreements with Big Ten, Big 12 Conferences Circle Internet Group (CRCL) Taps Into Stablecoin Boom Amid Frothy Valuation Option traders moderately bearish in PayPal with shares down 0.57% 'Deserves a Revisit': Growth Ahead for Yum Brands (NYSE:YUM), Says JPMorgan
Yahoo
a day ago
- Business
- Yahoo
Kraken rolls out peer-to-peer payments app
Cryptocurrency exchange Kraken has launched Krak, a peer-to-peer (P2P) payments app, to enable cross-border fiat and crypto transfers. The app allows users to manage over 300 fiat and digital assets and supports peer-to-peer payments across 110 countries. It enables fund transfers using Kraktags, a personalised payment ID, removing the need for bank details or crypto wallet addresses. It supports transactions in cryptocurrencies, stablecoins, and fiat currencies where available, offering spend and earn accounts, with no lock-up periods, minimum contributions, or subscriptions required. Eligible users can earn up to 4.1% rewards on USDG stablecoin balances and up to 10% on over 20 other digital assets. Future developments for Krak include physical and virtual Krak cards for spending at millions of merchants worldwide, both online and in-store. The app will also introduce pay-in-advance services, including lending, loans, and credit card programmes. Kraken co-CEO Arjun Sethi said: '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.' Earlier this year, Kraken launched Kraken Pay, a service supporting payments with over 300 fiat and crypto assets. "Kraken rolls out peer-to-peer payments app " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
2 days ago
- Business
- Yahoo
Kraken launches Krak App to blend crypto payments and real-time finance
Kraken launches Krak App to blend crypto payments and real-time finance originally appeared on TheStreet. Kraken has launched a new all-in-one global money app called Krak, aiming to make managing money faster, cheaper, and more flexible for users worldwide. Announced on June 26 from Cheyenne, Wyoming, the Krak app combines the benefits of crypto with traditional finance. Users can send money across 110 countries, manage over 300 fiat and digital assets, and earn rewards on their balances — all in one app. Peer-to-peer payments are made easy with "Kraktags," personalized IDs that let people transfer funds without needing bank account numbers or wallet addresses. Join the discussion with Altcoin Daily At launch, the app will offer spend-and-earn accounts with no subscription or lock-in periods. Users holding the USDG stablecoin can earn up to 4.1% in rewards, and over 20 other digital assets offer earning rates of up to 10%. The aim is to replace outdated banking systems and create a faster, more open financial world, said Kraken's co-CEO Arjun Sethi. "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."Looking down the road, Krak intends to offer both physical and virtual cards to millions of merchants and to expand into consumer lending, credit cards, and other financial services. The Krak app is now available for download on Android and iOS and is poised to position itself as the must-have tool for the digital-first generation that wants complete control over their money, their way. Kraken launches Krak App to blend crypto payments and real-time finance first appeared on TheStreet on Jun 26, 2025 This story was originally reported by TheStreet on Jun 26, 2025, where it first appeared. Sign in to access your portfolio
