Kraken Unveils Non-Custodial Wallet

Kraken, the second-largest cryptocurrency exchange in the United States, has launched a wallet designed for self-custody. It is available to all users, not just the platform’s clients.

Meet the brand new Kraken Wallet: simple, secure, powerful.

?️ Manage multiple wallets
? Multi-chain support
? Manage NFTs & DeFi positions
? IP privacy & Encryption
? No client side tracking

Download now ⤵️https://t.co/EYHweJGDzV pic.twitter.com/jLbldh9j6k

— Kraken Exchange (@krakenfx) April 17, 2024

The application initially supports eight blockchains, including Bitcoin, Ethereum, Solana, Optimism, Base, Arbitrum, Polygon, and Dogecoin. The extension also allows for the management of NFTs and DeFi positions.

Kraken Wallet is open-source, enabling third-party developers to integrate it into their ecosystems.

According to a statement from the team in a conversation with CoinDesk, the wallet collects “an absolutely minimal amount of data”:

“User activity is routed through Kraken’s own infrastructure, protecting IP addresses, identity, and location information from potential external interference.”

Eric Kuhn, Product Director of Kraken Wallet, added that the application was developed based on the core principles of the crypto industry—privacy and openness.

The trading platform has joined its competitors with this initiative. Previously, exchanges Binance and OKX also launched their own wallets.

Back in March, Kraken introduced a custodial service for its institutional platform.