cryptocurrency exchange giant Kraken has launched a blockchain-powered global currency app called KRAK, which allows users to trade immediately on the boundaries at almost no cost, while also receiving competitive rewards on their account balances.
Kraken said KRAK aims to fix outdated norms of old finance, blending crypto technology with the exchange’s trusted network of banking and payment partnerships. According to the press release, the app will allow users to send peer-to-peer funds in 110 countries and use over 300 assets, spanning cryptocurrencies, stable currencies and fiat currencies without inserting bank details or crypto wallet addresses.
As the U.S. opens more to cryptocurrencies, big exchanges like Coinbase and Kraken are busy narrowing the gaps in customer products, whether it is payments using cryptocurrencies. Income income or Trading stocks.
The KRAK app will also offer dedicated spending and earn accounts, where eligible users can earn up to 4.1% rewards USDG Stablecoin balances, as well as other opportunities for over 20 digital assets, can generate up to 10%. USDG is a fixed dollar token for the global dollar network, and Kraken is a key member.
“Look, the banking industry sucks; maybe that’s the easiest way to say it,” Mark Greenberg, head of global consumer products at Cracon, said in an interview. “I spent the whole career over the years on banking and tried many different ways to make it better. But moving money, sharing, spending it, crossing boundaries, making money in a reasonable way, making money in a reasonable way. Crypto has always been a big part of the answer.”
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