Kraken, one of the world’s largest cryptocurrency exchanges, has launched a new global money app called Krak.

Designed to modernise international finance, the app combines blockchain infrastructure with traditional banking partnerships, allowing users to send, receive, and earn money across 110 countries with over 300 supported assets.

The launch comes as regulatory environments in major economies such as the US continue to open up to crypto innovation, prompting firms like Kraken and Coinbase to ramp up their consumer-focused offerings.

Krak enables seamless peer-to-peer transfers using both fiat and crypto without requiring bank account details or wallet addresses.

With this move, Kraken enters a growing arena of crypto-enabled financial applications aiming to replace or complement traditional banking.

Krak’s key value proposition lies in its ability to handle both fiat and cryptocurrency transfers through a single platform.

Users can transact across borders using over 300 assets, including stablecoins, traditional currencies, and crypto tokens, according to Kraken’s official announcement.

Transactions do not require users to input banking information or crypto wallet addresses, streamlining the payment process and addressing one of the major pain points in cross-border money transfers.

The service is built to be borderless and instant, removing the need for intermediaries.

With this model, Kraken aims to serve both crypto-native users and those unfamiliar with digital assets.

The app leverages Kraken’s existing network of global banking and payments partners, enabling compatibility with legacy financial systems while maintaining the efficiency of decentralised finance.

Beyond transfers, Krak offers users a suite of financial tools intended to maximise returns on their holdings.

One of the flagship features is the ability to earn up to 4.1% on balances held in USDG, the dollar-pegged stablecoin issued by the Global Dollar Network.

The app also features over 20 yield-bearing digital assets that can generate returns of up to 10%.

These include staking opportunities and savings-like functions across multiple coins, enabling users to earn passive income without leaving the app environment.

While yield-generating products have attracted scrutiny in some jurisdictions, Kraken’s offering is designed for compliance with applicable regulations and is limited to eligible users.

The introduction of Krak coincides with increased regulatory clarity in the US crypto market, where institutional and retail adoption is steadily growing.

Exchanges like Kraken and Coinbase are now building out ecosystems that go beyond trading.

These include tools for decentralised identity, payment infrastructure, and digital asset savings—areas that were once fragmented across multiple services.

The launch of Krak appears aimed at filling gaps left by traditional banks, which continue to struggle with the inefficiencies of global remittance systems.

In contrast, crypto rails offer near-instant settlement, reduced fees, and broader accessibility.

As the app rolls out globally, Kraken hopes to attract a wider user base, including those who may not be traditional crypto investors but are looking for cheaper and faster alternatives to existing payment platforms.

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