SAN FRANCISCO--(BUSINESS WIRE)--Kraken, the biggest cryptocurrency exchange by euro trading volumes, announced today the new Kraken mobile app is now available in the U.S., one of the most financially active markets in the world, following the positive reception the app received in Europe earlier this year.
Beginning today, anyone across the U.S. can buy or sell more than 50 different cryptocurrencies directly from their mobile phones. With its intuitive interface, sleek design, and frictionless user experience, anyone can set up an account and purchase digital assets at the push of a button, with as little as $10.
The new Kraken app is designed with the consumer investor in mind. It offers fast verification, a simple buying process using bank transfer, and a chance to learn about cryptocurrencies. This new app experience differs from our existing Kraken Pro app, which is built for more advanced traders.
The future of finance is mobile. Tens of millions of people in the U.S. already use some form of investment app – a number that has grown from near-zero just a decade ago. Many of them are in the millennial and Gen Z age groups. While they may not yet have as much financial experience as their older peers, this is changing. The share of total trading volume conducted through apps – both in traditional assets as well as in cryptocurrencies – will likely rise considerably over the next decade.
“The past year has shown that the U.S. investor is truly a force to be reckoned with,” said Jesse Powell, co-founder and CEO at Kraken. “With record numbers of Americans conducting most of their financial lives through mobile apps, it makes perfect business sense for Kraken to double down and offer up an app that enables easy access to cryptocurrencies wherever they are in the world: an asset class that’s changing finance and making it work for everyone.”
Kraken has experienced exceptional growth since it launched the Kraken app for consumers in Europe back in January. For the month of May, trading volumes on the app in Europe were more than triple the volumes reported in March. May trading volumes grew more than sixfold from where they were in January, one of Kraken's best months on record.
Jeremy Welch, Chief Product Officer at Kraken, commented: “The last five months have been pretty unreal at Kraken. We've seen a surge in new clients and in all-time highs – with Kraken services handling nearly $12 billion of trading volume in a single day. We know greater access leads to wider adoption. The launch of Kraken’s app in the U.S. is a step toward ensuring crypto, as an asset class, reaches everyone – regardless of their background.”
Kraken also offers everyone the tools and educational content to learn about cryptocurrency and investing in digital assets. Volume transacted on the exchange year-to-date totaled more than $420 billion, exceeding the total amount that changed hands in all of 2020.
When you join Kraken, you gain access to a complete suite of products and services. We know crypto can be daunting and that’s why Kraken features a broad range of educational tools and resources to ensure what you’re buying is right for you.
Based in San Francisco, Kraken is the world’s largest global digital asset exchange based on euro volume and liquidity. Globally, Kraken’s client base trades more than 60 digital assets and 7 different fiat currencies, including EUR, USD, CAD, GBP, JPY, CHF and AUD. Kraken was founded in 2011 and was the first U.S. crypto firm to receive a state-chartered banking license, as well as one of the first exchanges to offer spot trading with margin, regulated derivatives and index services. Kraken is trusted by more than 7 million traders, institutions and authorities around the world and offers professional, round the clock online support.
2021 is already a record year for Kraken. Year-to-date, Kraken has processed more than $420 billion in trading volume, more than three times the volume reported in 2020, our best year on record. May is Kraken’s best month on record. In a single day, Kraken processed just under $12 billion traded volume, which exceeded most historical monthly volumes, and was more than 40x the average daily volumes in 2020 Kraken continues to see an influx in new customers. Total signups in the first two months of the year were triple the number of signups we had for the whole of H2 2020.
Kraken is backed by investors including Tribe Capital, Hummingbird Ventures, Blockchain Capital and Digital Currency Group, among others. For more information about Kraken, please visit www.kraken.com.