Cryptocurrency platform Kraken has launched a global money app to allow its customers to transact across borders.

The company says that users will be able to transact for “almost no cost” as well as earn rewards on their account balances.

Through the Krak app, users will be able to manage over 300 different fiat and digital assets.
The app will have several features including peer-to-peer payments which will allow users to send money to each other across 110 different countries.

Using Kraktags, a personalised payment ID, Kraken said app users can seamlessly send and request payments across 300+ assets spanning crypto, stablecoins and fiat currencies without inserting bank details or crypto wallet addresses.

The company added that users can earn rewards on stablecoin balances and other assets.
“With Krak, we’re taking a bold step toward rebuilding what we consider to be the most important layer of the global economy: ow people move and use money,” said Arjun Sethi, Kraken’s co-chief executive. “We believe that basic financial services should be universally accessible, and that money should move as easily as information does.”

In March, Kraken announced it would buy retail futures trading platform NinjaTrader in a deal worth $1.5 billion.

At the time, the company said that the transaction would be the largest-ever deal combining traditional finance and crypto, adding that the move would see it become a leader in US futures for both traditional and crypto markets.

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