Kraken Launches Krak: A No-Fee App to Use and Store Bitcoin and Crypto

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The financial world is witnessing a pivotal shift as Kraken introduces Krak, a revolutionary no-fee global money app designed to seamlessly blend Bitcoin, cryptocurrency, and traditional finance into one intuitive platform. Launched just one day after securing its MiCA license in Europe, Krak empowers users to spend, send, and save across more than 300 fiat and digital assets—ushering in a new era of borderless, efficient, and accessible financial tools.

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Redefining Global Money Movement

At the heart of Krak’s mission is a bold vision: to modernize an outdated financial system. Arjun Sethi, co-CEO of Kraken, emphasized this drive for transformation in a recent statement:

“We built and launched the Krak app because the financial system has been stuck in the past, and we think it’s time to do something about it. With Krak, we’re taking a bold step toward rebuilding what we consider to be the most important layer of the global economy: How people move and use money.”

By integrating banking, payments, and crypto management into a single interface, Krak eliminates friction in cross-border transactions and everyday financial activities. This unified experience reflects a growing demand for platforms that treat digital assets not just as investments, but as functional currency.

Instant, Borderless Payments Without Complexity

One of Krak’s standout features is its ability to facilitate instant peer-to-peer payments across more than 110 countries. Unlike traditional systems that require bank account details or long wallet addresses, Krak uses personalized Kraktags—a user-friendly identifier that simplifies sending and receiving funds.

Imagine splitting a bill with a friend abroad or supporting family members overseas—all without worrying about high fees or slow processing times. With Krak, these actions happen instantly and at no cost, reinforcing its role as a true global money app.

Users can also manage over 300 supported assets—from major cryptocurrencies like Bitcoin to stablecoins and fiat currencies—all within a single dashboard. This consolidation reduces the need for multiple apps or accounts, offering both convenience and enhanced financial oversight.

Earn Rewards Without Lock-Ups or Subscriptions

Beyond spending and sending, Krak incentivizes saving through competitive reward rates:

Crucially, these returns come with no mandatory lock-up periods or subscription fees—a rare advantage in the crypto space where yield often comes with strings attached. This design aligns with Kraken’s philosophy of democratizing access to financial tools while maintaining full user control over their funds.

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Roadmap: Debit Cards, Lending, and Beyond

Krak’s launch is just the beginning. The platform plans to roll out physical and virtual debit cards, enabling users to spend their crypto balances directly at merchants worldwide. This functionality builds on Kraken’s April partnership with Mastercard, which already allows Bitcoin spending at over 150 million merchants globally.

Future updates will expand into lending and credit tools, further blurring the lines between decentralized finance (DeFi) and traditional banking services. These additions aim to provide users with holistic financial freedom—where crypto isn’t just stored, but actively used to build credit, access capital, and grow wealth.

Regulatory Milestone: MiCA License Accelerates European Expansion

The timing of Krak’s release is strategically significant. Just one day prior, Kraken secured regulatory approval under Europe’s Markets in Crypto-Assets (MiCA) framework. This landmark license grants Kraken full authorization to offer crypto services across all 30 countries in the European Economic Area (EEA).

With this green light, Kraken can now scale its euro-denominated offerings—including Krak—with complete legal clarity. The MiCA compliance underscores Kraken’s commitment to operating transparently within regulated markets, setting a benchmark for responsible innovation in the industry.

This regulatory foothold not only strengthens user trust but also positions Kraken to lead in mainstream Bitcoin adoption across Europe—a region increasingly receptive to digital asset integration in everyday finance.

Driving Real-World Crypto Adoption

Krak represents more than just another crypto wallet—it's a bridge between speculative digital assets and practical daily use. By combining zero fees, instant transfers, high-yield savings, and upcoming spending tools, Kraken is turning Bitcoin into a viable alternative to traditional money.

The app caters to both seasoned crypto holders and newcomers alike, lowering barriers to entry through simplicity and utility. As global demand for decentralized financial solutions grows, platforms like Krak are paving the way for mass adoption—where anyone, anywhere, can participate in the new digital economy.

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Frequently Asked Questions (FAQ)

Q: What is Krak by Kraken?
A: Krak is a no-fee global money app launched by Kraken that allows users to spend, send, and save over 300 fiat and digital assets—including Bitcoin—through a unified platform.

Q: Are there any fees associated with using Krak?
A: No. The app operates with zero transaction fees for sending, receiving, or managing assets, making it highly accessible for everyday use.

Q: In which countries is Krak available?
A: Users can send instant payments to over 110 countries. Thanks to Kraken’s MiCA license, the app is fully compliant and available across all 30 European Economic Area (EEA) countries.

Q: How does Krak make money if it charges no fees?
A: While Kraken hasn’t disclosed full revenue mechanics, potential sources include premium financial services (like lending), card interchange fees, and yield generation from user-held assets—common models in fintech and crypto platforms.

Q: Can I earn interest on my crypto with Krak?
A: Yes. Users can earn up to 4.1% on USDG stablecoin balances and up to 10% on select digital assets—with no lock-up periods or subscriptions required.

Q: Is Krak safe to use?
A: As a product of Kraken—a well-established and regulated crypto platform—Krak benefits from strong security protocols, compliance with MiCA regulations, and years of operational experience in safeguarding user assets.

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