Kraken unveils Krak, his global payment app for Crypto and Cash transfers

The exchange of Kraken cryptocurrencies has launched a new application of payments called Krak, designed to facilitate fast and inexpensive money transfers, both in Fiat coins and in digital active ingredients. This application marks a strategic turn for the company which extends beyond trading crypto to offer wider financial services.

Krak: Simplifying global payments with more than 300 active workers

The new Krakn payment system from Kraken allows users to send funds in more than 300 supported assets, including Fiat currencies, cryptocurrencies and stablecoins.

Available in more than 110 countries, Krak simplifies transfers by assigning each user a unique kraktag, which works as a username. Rather than entering long bank account numbers or crypto wallet addresses, users can send or request payments quickly using this personalized label.

Kraken Managing Director, Arjun Sethi, described the application Like part of a broader ambition aimed at redefining the way in which money circulates in the world. In an update of the company, he explained that this effort is crucial because of the important role that the movement of money plays in the world economy.

With Krak, we take a daring step to rebuild what we consider to be the most important layer of the world economy: the way people are moving and using money. As far as I remember, the transfer of money has always seemed faulty. This is one of those fundamental things that we expect to see working, and yet that you send a few dollars to a friend or that you transfer funds through the continents, the process is slow, expensive and frustrating because it lacks transparency. This should no longer be the case in 2025.

Arjun Sethi, Managing Director of Kraken

What users can expect from the new KraKen Krak payment application

Kraken’s Krak application is designed to facilitate global payments and daily awards. Here's how the application works and what is to come.

• The application supports crypto, stablecoins and fiat, making inter-active transfers fluid;
• With the spend and earn accounts, users can pay or earn rewards without blocking or costs;
• When launching, eligible users can gain up to 4.1% TAEG on USDG sales;
• A Staking program is also available, offering up to 10% yield on more than 20 digital assets.

For the future, Kraken intends to expand the features of Krak. A key development in progress is the introduction of both physical and virtual krak cards. In addition, the application will be extended to include various financial products, putting it in tune with the consumer digital banking services.

Planned offers include loan facilities, credit services, credit card options and potentially delayed payment features. These initiatives must strengthen Krak's competitiveness in the face of the main fintech players by offering native crypto solutions in parallel with traditional financial instruments.

This deployment is part of Kraken's wider strategy aimed at diversifying its business model. The exchange tends to an integrated approach, combining the functionality of a digital asset platform with that of traditional financial services.

Position yourself for growth and IPO

Kraken has already taken measures to line up in traditional financial markets. In March, Kraken developed in derivatives by acquiring the Ninjatrader trading platform as part of an agreement with $ 1.5 billion.

In another movement, the exchange obtained its mica recording in Ireland, which gives it the green light to offer services through the EU. Kraken also has IPO IPT projects with an IPO Scheduled in early 2026. This decision follows what the company considers a clear turning point in regulations in the United States, which allows it to move forward.

Earlier this year, Securities and Exchange Commission (SEC) of the United States withdrew its accusations against Kraken concerning non-registered securities activities. Shortly after, the SEC brought together the main Crypto companies, including Kraken and Fidelity, for a discussion on the custody of digital assets and the future regulatory framework in the United States.