Krak App: No Fees, Multi-Asset, Global Payments
Kraken has officially launched Krak, a zero-fee global money app that merges banking, payments, and crypto into one seamless experience. Users can send instant peer-to-peer payments to over 110 countries using just a personalized Kraktag—no bank account numbers or wallet addresses needed. The app supports management of over 300 fiat and digital assets, including Bitcoin, providing a unified platform for all financial activities. “The financial system has been stuck in the past, and we think it’s time to do something about it,” said Arjun Sethi, Kraken’s co-CEO. “With Krak, we’re taking a bold step toward rebuilding what we consider to be the most important layer of the global economy: How people move and use money.”
Reward Mechanisms: Up to 10% on Digital Assets and Stablecoin Yields
Krak users can earn up to 4.1% annual rewards on USDG stablecoin balances and up to 10% on other digital assets, with no subscriptions or lockup periods. This rewards structure encourages savings while maintaining liquidity. Looking ahead, Krak will introduce physical and virtual debit cards for seamless spending at merchants worldwide and expand into lending and credit tools. “We believe that basic financial services should be universally accessible, and that money should move as easily as information does,” added Sethi. “Krak is just the beginning.”
Regulatory Milestones and Payment Integration: MiCA License and Mastercard Partnership
Following its MiCA license approval, Kraken now has a clear path to expand its regulated Bitcoin services across all 30 European Economic Area (EEA) countries. This milestone positions Kraken to deepen its footprint in euro-denominated Bitcoin markets while rolling out products like Krak with full legal clarity across the region. In April, Kraken partnered with Mastercard to enable Bitcoin payments at over 150 million merchants, demonstrating a clear commitment to integrating Bitcoin into real-world commerce. With the launch of Krak, Kraken continues to double down on that vision—making Bitcoin not just an asset to hold, but a practical tool for everyday use, accelerating global adoption.