{"id":24969,"date":"2025-06-27T10:31:17","date_gmt":"2025-06-27T07:31:17","guid":{"rendered":"https:\/\/forklog.com\/en\/kraken-launches-payment-app-to-address-outdated-financial-system-issues\/"},"modified":"2025-06-27T10:31:17","modified_gmt":"2025-06-27T07:31:17","slug":"kraken-launches-payment-app-to-address-outdated-financial-system-issues","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/kraken-launches-payment-app-to-address-outdated-financial-system-issues\/","title":{"rendered":"Kraken Launches Payment App to Address &#8216;Outdated Financial System&#8217; Issues"},"content":{"rendered":"<p>Cryptocurrency exchange Kraken has <a href=\"https:\/\/blog.kraken.com\/news\/why-were-launching-krak\">launched<\/a> a payment application called Krak, enabling free transfers in fiat and cryptocurrencies worldwide.<\/p>\n<p>According to the press release, this universal tool is &#8220;designed to address the fundamental issues of the outdated financial system.&#8221;<\/p>\n<p>Users can access free domestic transfers and commission-free international transactions in over 160 countries. The app supports more than 300 digital assets and fiat currencies.<\/p>\n<p>Holding the stablecoin Global Dollar (USDG) can yield up to 4.1% annually, while staking other assets can offer up to 10%.<\/p>\n<p>In the future, Kraken plans to add a credit line secured by digital assets, as well as physical and virtual Krak cards. To simplify transactions, the app will feature Kraktags, akin to Ethereum Name Service (ENS) domain names.<\/p>\n<p>According to Kraken co-CEO Arjun Sethi, the app is built on public blockchains. This eliminates intermediaries, reduces fees, and speeds up settlements.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;Assets are portable, compatible, and under your control,&#8221; he added.<\/em><\/p>\n<\/blockquote>\n<p>The primary source of revenue for Krak will be fees for exchanging one asset for another.<\/p>\n<p>Back in March, Bloomberg sources reported on the exchange&#8217;s plans to <a href=\"https:\/\/forklog.com\/en\/news\/kraken-considers-ipo-amid-regulatory-shifts\">go public<\/a> in the first quarter of 2026.<\/p>\n<p>In the same month, Kraken <a href=\"https:\/\/forklog.com\/en\/news\/kraken-agrees-to-acquire-ninjatrader-for-1-5-billion\">signed an agreement<\/a> to acquire the futures trading platform NinjaTrader for $1.5 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cryptocurrency exchange Kraken has launched a payment application called Krak, enabling free transfers in fiat and cryptocurrencies worldwide. According to the press release, this universal tool is &#8220;designed to address the fundamental issues of the outdated financial system.&#8221; Users can access free domestic transfers and commission-free international transactions in over 160 countries. The app supports [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":24968,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1480,1198,193],"class_list":["post-24969","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-blockchain-apps","tag-crypto-payments","tag-kraken"],"aioseo_notices":[],"amp_enabled":true,"views":"39","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/24969","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=24969"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/24969\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/24968"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=24969"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=24969"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=24969"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}