Kraken Launches Crypto’s Attempt at a Venmo-Killer
Kraken’s rising from the decentralized deep to capsize a big ship: traditional finance. The crypto platform launched a peer-to-peer payments app yesterday that lets users instantly send 300+ crypto tokens, stablecoins and fiat currencies to friends and family in more than 100 countries.
Anyone who has had to split a check with new hostel friends knows that rivals Venmo and Zelle only support payments between US users. Kraken’s app, called Krak, also doesn’t charge fees for cross-border payments or transfers from one currency to another, setting it apart from PayPal.
Kraken’s app is meant to serve as an entry point to digital assets for the crypto-cautious, with rewards of up to 10% on Krak account balances to entice new…
