Kraken’s new Krak app just steamrolled traditional banking by enabling instant peer-to-peer money transfers across 160+ countries. No more waiting days for international transfers or paying ridiculous bank fees. The app supports over 300 assets including cryptocurrencies, stablecoins, and fiat currencies, operating 24/7 with personalized payment handles called Kraktags. Users can even earn up to 4.1% APR on stablecoins while they sit there. The full story reveals how this could reshape global finance entirely.
While traditional money transfer apps fumble around with bank delays and hefty fees, Kraken just dropped Krak—a peer-to-peer payments app that basically told the banking system to take a hike.
This isn’t your typical fintech wannabe. Krak operates in over 160 countries, letting users send and receive more than 300 different assets instantly. We’re talking cryptocurrencies, stablecoins, and regular old fiat currencies. No banks required, thank you very much. With bank crypto adoption accelerating, services like Krak are becoming increasingly mainstream.
Skip the bank drama—300+ assets flowing instantly across 160+ countries with zero traditional banking headaches required.
The app runs 24/7 because, surprise, blockchains don’t take coffee breaks like your local bank branch. Users get personalized payment handles called Kraktags, which means no more fumbling around with routing numbers or wallet addresses that look like alphabet soup.
Kraken built this thing on their decade-plus experience in crypto, so it’s not some garage startup hoping for the best. The company designed Krak as what they call a “full-stack money app”—basically Venmo or Cash App, but with actual backbone thanks to blockchain infrastructure. The launch represents a significant advancement in crypto adoption as we move through 2025.
Here’s where it gets interesting. Users can earn up to 4.1% APR on stablecoin USDG just for holding it. Some digital assets offer up to 10% APR with zero lockups or subscription fees. Traditional savings accounts are looking pretty pathetic right about now.
The app supports multiple accounts for spending and saving, plus staking and yield rewards without the usual complexity that makes people’s eyes glaze over. Future plans include lending and borrowing features where crypto holdings serve as collateral—no credit checks needed.
Physical and virtual Krak cards are coming soon, allowing users to spend their various crypto and fiat balances directly at stores worldwide. Because apparently having 300+ assets sitting in an app isn’t useful unless you can actually spend them on coffee.
Krak uses public blockchain infrastructure and stablecoins backed by actual reserves, not crypto fairy dust. Kraken’s established compliance framework keeps everything above board across all those countries where it operates. The platform benefits from Kraken being the first to conduct a Proof of Reserves, establishing an early standard for transparency in the crypto industry.
The whole setup bypasses traditional banking restrictions, potentially disrupting how people think about cross-border payments and financial inclusion globally.
