Kraken Expands With Krak Global Payments App

Kraken has launched Krak, a peer-to-peer payments app enabling users to send and receive over 300 currencies, including cryptocurrencies and fiat, across 110 countries. The app uses blockchain technology and Kraken's global payment partnerships to provide instant, low-cost cross-border transfers without requiring bank account details or crypto wallet addresses. Krak users can create dedicated spend and earn accounts, earning up to 4.1% APY on USDG stablecoin balances and up to 10% on other supported digital assets. Kraken's leadership positions Krak as a tool to modernize the financial system and give users more control and financial freedom. The launch is part of Kraken's broader strategy to expand from crypto trading into global payments, yield products, and equities. Future Krak features will include physical and virtual cards and pay-in-advance services like loans.