HKAN | June 27

Kraken, a leading cryptocurrency exchange, has officially launched Krak, a standalone peer-to-peer payments app that supports both crypto and fiat transactions across more than 110 countries, with support for 300+ assets including cryptocurrencies, stablecoins, and traditional currencies .

A New Era in Peer-to-Peer Payments

Multi-currency support: Users can send and receive funds in over 300 assets

Global coverage: Available in 110–160+ countries

Simple onboarding: No need to share bank details or crypto addresses—just use a Kraktag unique identifier

Instant and cheap transfers: Crypto via blockchain; fiat through Kraken’s internal systems—minimizing delay and fees

Built for Rewards & Growth

Krak includes spend and savings accounts, offering:

Up to 4.1% APY on USDG stablecoin balances

Up to 10% rewards on selected crypto assets

Kraken plans to soon introduce physical and virtual payment cards, credit/loan services, and other enhancements to its ecosystem .

Competing With Mainstream Payment Apps

Positioned to rival PayPal, Venmo, and Cash App, Krak bridges traditional finance and blockchain, leveraging Kraken’s decade-long global payment infrastructure and regulatory licenses .

Final Take

Kraken’s introduction of Krak marks a major step toward a crypto-native payments ecosystem—bringing borderless, instant, and rewarding peer-to-peer transactions to millions worldwide, while challenging legacy financial systems.

Discover Krak’s features and crypto payment trends at [HKAN News]