Kraken Debuts P2P App Amid Push Beyond Crypto

Crypto exchange of Kraken has debut Payments Peer-to-peer (P2P), which allows users to send Fiat and cryptocurrency regardless of Earth’s boundaries. This step is part of the Exchange’s efforts to expand its offer of financial services beyond cryptocurrencies.

According to Thursday, Kraken “Krak” offers users an account of expenses and yields promising revenue for more than 20 digital assets along with cross -border transactions, market forecast This year to overcome $ 8 billion in the United States.

“[…] The financial system has been stuck in the past and we think it is time to do something about it, ”said Kraken Co-General Director of Arjun Sethi.” We believe that basic financial services should be generally accessible and that money should move as easily as information. “

https://www.youtube.com/watch?v=qrhtmbjcp3e

Kraken’s application will compete against other solutions by transmitting money, such as cash app and Venmo, both popular financial applications on the US market.

Cash app had 57 million active users a month in the first quarter of 2025 generates income of $ 3.9 billion. Venmo User Base did to 68.3 million in 2024, according to to his parent company PayPal. Both applications have limited support for cryptocurrency transactions.

Related: PayPal, Venmo introduce solan, gears of chain partitions

Kraken Pivot, Eyes IPO

Krak is the latest attempt by the stock exchange to exceed the crypto service and address a wider range of users. In May, Kraken teamed up with Banked Starting tokenized stocks Exchange for clients outside the US.

This step is part of a wider shift in Kraken after the arrival of the co-founder of Arjuna Sethi and places the stock exchange to compete with the trading platforms of crypto-STOCK such as Robinhood and Etoro. Robinhood revealed in May development plans Blockchain for European users to trade tokenized American shares.

Starting the Kraken Payments application is coming before a possible initial public offer in 2026. Society has been talking about IPO for years, but Sethi recently said yes depend on the regulatory clarity for digital assets before the debut on the stock market. In January 2025, the company revealed that its income in 2024 jumped to $ 1.5 billion As the crypto market has risen and the interest in digital assets has increased.

Kraken’s Payments also comes before A Potential public offer In 2026. While society has hovered the idea of ​​publishing for years, Sethi recently said that the list will depend on greater regulatory clarity around digital assets. The company reported income Revenue $ 1.5 billion in 2024guided by renewed investors’ interest in digital asset.

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