Kraken, a major cryptocurrency exchange, released its new app, Krak, on June 26, 2025. This app lets people send and receive money across the globe. It works with both cryptocurrency and regular cash.
Users in over 100 countries can use it, and it handles more than 300 types of money. Krak uses blockchain for crypto transfers and internal systems for cash, making payments fast and low-cost.
Kraken started in 2011 and has built a strong reputation over the years. Millions of people trust it for trading cryptocurrency. The company launched Krak to bring digital money into daily life.
Jesse Powell, Kraken’s CEO, said, “Krak gives users more control over their money. It makes transactions quick and cheap. We see cryptocurrency changing how people use money, and Krak is part of that shift” .
What Krak Offers
Krak comes with useful features. One is peer-to-peer payments. Users can send money straight to others without a bank. They use Kraktags—simple usernames—to make transfers easy. No need for bank account numbers or crypto wallet addresses. This speeds up payments and helps beginners get started .
Another feature is the spend account. Users can store money in the app and earn rewards. For example, keeping USDG, a stablecoin linked to the U.S. dollar, earns up to 4.1% yearly. Other cryptocurrencies can bring in up to 10%. These rates beat most bank savings accounts, which could attract people looking to grow their funds.
Security matters too. Krak protects money and data with encryption. It uses two-factor authentication to stop unauthorized access. Kraken also shows proof-of-reserves, meaning they have enough funds to match what users hold. This builds confidence in the app .
How to Get Krak
Anyone can download Krak for free. It’s on the Google Play Store for Android phones and the Apple App Store for iPhones. No monthly fees apply, but some transactions—like switching currencies—might cost a little. Check the fee list on the Krak website for details.
Getting started is simple. Download the app and sign up. Users need to share some personal details and verify who they are, as rules require. After setup, add money from a bank or crypto wallet. Then, send payments, buy things, or earn rewards.
There’s also a referral perk. Invite a friend to join Krak, and earn $10 when they sign up. Users can earn up to $1,000 by inviting 100 friends. It’s an easy way to make extra cash while sharing the app .
What’s Next for Krak
Kraken has plans to expand Krak. Soon, users will get physical and virtual cards. These will work at stores accepting Visa or Mastercard. Whether spending crypto or cash, the cards make purchases smooth. Later, Kraken might add lending or credit options.
This could let users borrow money or use credit through the app. As Kraken adds more features, like cards and loans, the app might draw users worldwide. It’s a step toward making money easier to use, wherever you are.
