{"id":34015,"date":"2025-06-27T10:01:33","date_gmt":"2025-06-27T10:01:33","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=34015"},"modified":"2025-06-27T10:01:33","modified_gmt":"2025-06-27T10:01:33","slug":"kraken-launches-krak-a-new-peer-to-peer-crypto-payments-app-details","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=34015","title":{"rendered":"Kraken Launches Krak: A New Peer-To-Peer Crypto Payments App\u2014Details"},"content":{"rendered":"
\n

On Thursday, crypto exchange Kraken launched a peer-to-peer payments app, enabling users to send and receive funds in both cryptocurrencies and fiat currencies across more than a hundred countries.\u00a0<\/p>\n

This move aims to broaden Kraken\u2019s services beyond its core digital asset trading operations, positioning the firm to compete directly with players like PayPal, Venmo, and Block\u2019s CashApp.<\/p>\n

Kraken Plans Physical And Virtual Cards<\/h2>\n

The newly introduced app, named Krak, offers users a dedicated spend account and the ability to instantly send and request payments in 300 different assets, which includes various cryptocurrencies and local currencies.\u00a0<\/p>\n

Unlike traditional cash transfers, which often rely on external banking systems, Kraken will utilize its own internal infrastructure for these transactions, aiming to enhance efficiency and speed.\u00a0<\/p>\n

In an interview <\/a>with Reuters, Arjun Sethi, co-CEO of Kraken, emphasized the company\u2019s ability to facilitate cross-border transactions. \u201cWe\u2019re able to move money across borders right off the bat, because that\u2019s what we do from a trading perspective,\u201d he noted.\u00a0<\/p>\n

Sethi highlighted that Kraken has spent over a decade building a \u201crobust system\u201d to comply with money transmitter licenses across various jurisdictions. He pointed out that customers are eager for new options for managing their money, prompting Kraken to expand its offerings<\/a>.<\/p>\n

Looking ahead, Kraken has ambitious plans for Krak, with future developments including the introduction of physical and virtual cards, as well as advanced services like pay-in-advance loans.\u00a0<\/p>\n

MiCA License Secured<\/h2>\n

This expansion follows another significant announcement <\/a>from the exchange, which recently secured a license under the European Union\u2019s Markets in Crypto-Assets Regulation (MiCA) from the Central Bank of Ireland (CBI).<\/p>\n

Sethi remarked on the importance of this licensing achievement, stating, \u201cSecuring a license from the Central Bank of Ireland isn\u2019t just about compliance; it\u2019s a powerful signal of Kraken\u2019s commitment to expanding the crypto ecosystem through responsible innovation.\u201d\u00a0<\/p>\n

The executive noted that being the first global crypto platform to receive authorization from the CBI underscores Kraken\u2019s dedication to building for the long term. \u201cTrust is the most valuable currency in crypto, and it\u2019s something you earn,\u201d he added.<\/p>\n

Kraken\u2019s regulatory progress is noteworthy, as the exchange already holds Virtual Asset Service Provider (VASP) registrations in key European countries, including Ireland, Belgium, France, Italy, the Netherlands, Poland, and Spain.\u00a0<\/p>\n

With a strong foundation in euro-denominated trading<\/a>, Kraken introduced the first BTC\/EUR trading pair in 2013 and has since become one of the most-soughted platform for euro trading.<\/p>\n

With the MiCA license now secured, alongside existing MiFID and EMI licenses, the exchange is reportedly preparing to extend its regulated offerings to millions of clients throughout the EU.\u00a0<\/p>\n

\"Kraken\"<\/p>\n

Featured image from DALL-E, chart from TradingView.com\u00a0<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

On Thursday, crypto exchange Kraken launched a peer-to-peer payments app, enabling users to send and receive funds in both cryptocurrencies and fiat currencies across more than a hundred countries.\u00a0 This move aims to broaden Kraken\u2019s services beyond its core digital asset trading operations, positioning the firm to compete directly with players like PayPal, Venmo, and […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-34015","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/34015","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=34015"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/34015\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=34015"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=34015"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=34015"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}