21 July 2025

Kraken, one of the longest-standing and most respected names in the crypto industry, has unveiled Krak, its next-generation global money app. Designed to simplify how people move, hold, and use value, Krak allows users to transact instantly across borders at minimal cost, while earning rewards on balances—regardless of whether they hold fiat or crypto.

The new app signals a strategic evolution for Kraken as it deepens its reach into consumer financial services and competes with modern money apps like Revolut, Venmo, and PayPal. But Krak isn’t just another fintech app with crypto bolted on—it’s designed from the ground up to treat traditional and decentralised finance as equals.

In an exclusive interview with MoveTheNeedle.news, Mark Greenberg, Kraken’s Global Head of Consumer, explains the motivation behind Krak’s development.

“Millions of people still face friction when trying to use their money across both worlds. Krak was designed to simplify that—offering an intuitive mobile experience for spending, sending, and saving, whether in fiat or crypto.”

A Legacy of Security and Innovation

Founded in 2011, Kraken is one of the oldest cryptocurrency exchanges in the world. It has weathered multiple market cycles, tightened its regulatory posture over the years, and developed a reputation for strong security, transparency, and user-first innovation. The platform offers a wide array of services—from spot and futures trading to staking and institutional custody—and serves millions of users across more than 190 countries.

“What sets Kraken apart is our commitment to security, regulatory compliance, and transparency,” Greenberg notes. “We’ve consistently prioritised responsible innovation—balancing speed and UX with rigorous operational standards. Our longevity and client trust are testaments to that approach.”

Krak is the next step in Kraken’s journey: a consumer-facing app that offers everyday utility while remaining rooted in the company’s foundational values.

How Krak Stands Out in a Crowded Field

Next-gen money apps have seen explosive growth over the past decade, but many still struggle to balance innovation with regulation—or to offer seamless crypto integration. With Krak, Kraken is positioning itself as a serious contender in the race to define the future of digital finance.

According to Greenberg, Krak’s clean, mobile-first interface is designed for flexibility and speed.
Users can switch fluidly between fiat and crypto balances, send payments in a single tap, and fund their accounts via traditional bank transfers or crypto deposits.

“What sets us apart is not just crypto access—it’s how native and intuitive that access is,” Greenberg emphasises. “While many fintech apps bolt crypto on as an afterthought, Krak was designed from the ground up to treat both money systems as equals. It's fast, secure, and free of clutter—just what users expect from next-gen finance.”

At launch, Krak is available in over 160 countries—a notably broader footprint than most competing apps, which often focus regionally. This global-first mindset is both strategic and philosophical, aligning with Kraken’s belief in open, permissionless finance.

“We believe moving money, especially in the modern era, should be thought of through a global lens,” Greenberg says. “Because of this approach, we’re focused on making sure Krak is compliant with the local laws within each jurisdiction it is available in, meaning certain features are not turned on for access in specific regions. Over time, and as the regulatory landscape evolves, we plan to make Krak available with full functionality across the world.”

A Secure and Compliant Foundation

Security remains non-negotiable for any product under the Kraken brand. Krak benefits from Kraken’s industry-leading infrastructure, managed by a world-class internal security team that operates year-round to protect systems and users alike.

On the compliance front, Krak is built to meet rigorous anti-money laundering (AML) and know-your-customer (KYC) standards. The platform employs a suite of protective measures—including internal controls, geo-IP firewalls, VPN screening, risk assessments, and ongoing regulatory engagement—to stay ahead of threats and requirements.

“This reflects our holistic approach to compliance,” Greenberg explains. “We focus on ensuring our compliance operation remains scalable, dynamic, and resilient to meet today’s demands, and those we anticipate in the future.”

Target Audience: Digital-Native and Crypto-Curious

Krak is primarily aimed at digital-native users who are already comfortable with mobile banking, digital wallets, and app-based finance—but who may not yet be fully immersed in crypto. It also appeals to experienced crypto users who want a more seamless way to integrate crypto into everyday financial tasks.

“Our go-to-market approach includes strategic partnerships, referral programs, and influencer engagement, alongside educational campaigns that demystify Krak’s features and use-cases,” says Greenberg. “Ultimately, we’re building for anyone who wants a smarter, faster way to manage their money—whether they’re crypto-savvy or just getting started.”

Integrated with the Kraken Ecosystem

One of Krak’s key advantages is its tight integration with the wider Kraken platform. Users can transfer funds instantly between their Krak wallet and their Kraken exchange account, allowing them to trade, stake, or invest without unnecessary friction or delays.

“This gives users both the usability of a money app and the power of an advanced trading platform—without needing to juggle different services or credentials,” says Greenberg.

In other words, Krak is more than just a spending app—it’s a portal into the broader crypto economy.

Looking Ahead: A Unified Financial Future

Krak is central to Kraken’s long-term vision of offering a unified financial experience where digital assets coexist with fiat, tokenised equities, and other next-generation financial instruments.

“With Krak, we’re taking the first big step toward offering full-spectrum financial services—spending, saving, earning, and investing—on a single, unified platform,” Greenberg says. “As the lines between traditional finance and crypto blur, we want Krak to be the accessible bridge to take this technology to the masses.”

In a world where financial services are being reimagined from the ground up, Krak may be Kraken’s most ambitious move yet. By combining a frictionless user experience with regulatory diligence and deep crypto expertise, Kraken is betting that it can redefine how money works for millions of people worldwide.