TokyoTokyo Mon - Fri 10:00-18:00 +81 (368) 662-975
info@mountequitygroup.com

Coinbase rival Kraken launches mobile app in U.S. to capitalize on crypto surge

Mount Equity Group Tokyo, Japan > News > Tech > Coinbase rival Kraken launches mobile app in U.S. to capitalize on crypto surge

Less than two months after Coinbase’s stock market debut, rival crypto exchange Kraken is bringing its mobile app to the U.S. as retail investors flock to digital currencies. 

Starting Wednesday, the new Kraken App will allow many users across the U.S. to securely buy and sell more than 50 crypto tokens from their mobile phones.

“This consumer app is our first major foray into supporting wider consumer adoption in a much more simplified, easy-to-use interface,” Chief Product Officer Jeremy Welch told CNBC. The app launched in Europe earlier this year.

In terms of trading volume, Kraken is the world’s fourth-largest digital currency exchange.

In a crowded field of cryptocurrency apps, Kraken claims to offer “the lowest fees in the industry.” It points to its speedy verification and onboarding times as a key benefit. The fastest onboarding and purchase test is under a minute, depending on the user’s bank.

Outside the U.S., Kraken is popular because of its margin and futures trading offerings, which are not yet available to U.S. consumers. Launched in 2013, Kraken says it has 7 million clients. It said its May trading volume grew more than sixfold from January.

“The last five months have been pretty unreal at Kraken,” said Welch. “We’ve seen a