Kraken has launched the Krak app, a blockchain-powered global money application that enables users to make instant peer-to-peer transactions across 110 countries using over 300 assets including cryptocurrencies, stablecoins, and fiat currencies, all without needing bank details or crypto wallet addresses. The app aims to innovate beyond the limitations of traditional finance by integrating crypto technologies with established banking and payment networks. Users can even earn competitive rewards on their account balances, with up to 4.1% rewards on stablecoin holdings and opportunities to earn up to 10% on more than 20 digital assets. Mark Greenberg, Kraken’s global head of consumer product, emphasizes that Krak is designed to make money movement simpler and more accessible, addressing long-standing frustrations with conventional banking. As the crypto landscape evolves, Kraken, alongside other major exchanges, is focused on enhancing their customer offerings to better leverage crypto for payments and financial transactions.

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