Kraken Launches Krak for Crypto and Fiat Payments
- Lyla Velez
- June 26, 2025
- Adoption
- 0 Comments
Key Points:
- Kraken launches Krak peer-to-peer payment system.
- Integration with over 300 cryptocurrencies.
- Krak offers up to 10% yield on assets.
Kraken has announced the launch of Krak, a new peer-to-peer payment system enabling crypto and fiat transactions. The app, which was introduced worldwide on June 26, 2025, was unveiled by Co-CEO Arjun Sethi.
The launch of Krak marks an important step towards making financial services universally accessible. Initial reactions signal positive interest from users attracted to Krak’s broad asset coverage and no-fee model.
Kraken’s new Krak app aims to revolutionize financial transactions by supporting seamless transfers of both fiat and cryptocurrencies. Arjun Sethi, Kraken’s co-CEO, noted the system’s alignment with modern fintech demands. The app boasts support for over 300 assets while offering yield functionalities on balances.
Sethi highlighted the global payment scope of Krak. The app, offering up to 10% yield on digital assets, is a notable addition to Kraken’s suite of services. The effort underscores Kraken’s ambition to enhance how money is used globally.
The financial impact of Krak is considerable, with features that support over 300 assets, empowering users globally. Although specific funding details remain undisclosed, Krak is integrated into Kraken’s existing resources as part of its product expansion initiative.
Technologically, Krak represents Kraken’s move into a competitive market dominated by platforms like Cash App and Venmo. It offers yields and supports both L1 and L2 assets. As adoption grows, affected tokens may see increased liquidity and on-chain activity.
Potential regulatory outcomes remain a consideration as Kraken operates within strict compliance standards. The launch of Krak highlights the importance of decentralized financial solutions, paving the way for future payment innovations beyond the typical exchange functions.
“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.” – Arjun Sethi, Co-CEO, Kraken
| Disclaimer: The content on nftenex.com is provided for informational purposes only and should not be considered financial or investment advice. Cryptocurrency investments carry inherent risks. Please consult a qualified financial advisor before making any investment decisions. |
