Kraken Launches Cryptocurrency Mobile App in the US Citing High Consumer Demand
The skyrocketing demand towards cryptocurrency assets has pushed the veteran US exchange Kraken to release a mobile application in the country.
In another development coming from American exchanges, Coinbase integrated its debit card with Apple Pay and Google Pay.
Kraken Mobile App Arrives in the US
Founded almost a decade ago, Kraken is among the latest and most popular digital asset trading platforms. The firm’s latest expansion initiative comes through a mobile application that will enable US-based retail investors to interact with bitcoin and more than 50 other digital assets.
“This consumer app is our first major foray into supporting wider consumer adoption in a much more simplified, easy-to-use interface,” commented Kraken’s Chief Product Officer – Jeremy Welch.
The executive further touched upon the recent growth in USD prices in the market, which consequently led to growing demand and users on the exchange.
“The last five months have been pretty unreal at Kraken. We have seen a surge in new clients and in all-time highs.” – he added.
The app, which was first launched in Europe, will offer “the lowest fees in the industry,” Kraken claimed. Although it won’t allow credit and debit card payments yet, the veteran exchange plans to introduce such services later in the year.
It’s worth noting, though, that the app won’t be available to residents of New York and Washington state due to the “cost of maintaining regulatory compliance.”
Coinbase Card Can Be Used With Apple Pay and Google Pay
Kraken’s main rival in the US, Coinbase, also outlined a significant milestone this week. The company announced that users will be able to link their Coinbase Cards with Apple Pay and Google Pay to “spend crypto at home and on the go” more easily.
The exchange will “invite select customers” off the waitlist for the debit card to start earning up to 4% back in various cryptocurrencies. Those who receive the opportunity will be able to make all sorts of everyday purchases through Apple Pay and Google Pay, including groceries, home office goods, and anything in between.
The initial cashback will be 1% in Bitcoin (BTC) and 4% back in Stellar Lumens (XLM).