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Cryptocurrency exchange Kraken Introduced by Krak, a new mobile payment application that allows users to send digital assets and currency Fiat recipients in more than 110 countries.
The application supports more than 300 currencies and focuses on usurping the dominance of established financial applications such as PaypalVenmo and Cash app.
Krak, developed to offer a faster and more flexible alternative to traditional financial tools, allows users to transfer money using a unique identifier called “Kractag”, eliminating the need to link a bank account for transactions. The application processes internally crypto and fiat and streamlines cross -border payments.
Kraken co-general director Arjun Sethi in statement:
“We believe that moving money should be as simple and without borders as sending a message. With Krak, we offer a new generation tool that challenges outdated financial rails and brings crypto and fiat to a single experience.”
Starting represents a significant step in the wider strategy of Kraken to develop VA Financial platform with multiple assets. The company based in San Francisco has historically focused on the crypto trading, but now pushes into areas traditionally dominated by older institutions.
The Company said users will also be able to obtain revenues through stable -based yield products in the application, starting from USDG PAXOS.
At the beginning of this year Kraken moved to traditional markets Offering shares and trading ETFs in selected US countries. The company also completed the Futures Trading Platform Platform Platform Platform Platform Platform Platform Platform Platform Platform Platform Platform Platform Platform Platform Platform Platform Platform Platform Platform Platform Platform deepening of the trail In derivatives and traditional finances.
Crack expansion comes after a period of legal uncertainty. In March, the US Securities and Stock Exchange Commission canceled the action against a society that claimed that it acts as an unregistered securities exchange.
The resolution has prepared a way for the development of new products and cleaned the main obstacle before Kraken Public statement. Kraken was founded in 2011 and is one of the longest exchanges of digital assets and has constantly expand its services to a global user base.
With the launch of Krak, the company is aimed at providing a uniform interface for moving money, whether users send dollars, euros or bitcoins without relying on traditional intermediaries.
Krak is now available to users in eligible jurisdictions and the company says that in the coming months it intends to introduce other functions, including integration with other financial products and improved identity for business payments.
