Crypto Exchange Kraken Launches New Mobile App

The newly-launched Kraken's product complements the Kraken Pro and Kraken Futures apps.

The US-based cryptocurrency exchange, Kraken has announced the official launch of its mobile app for Android and iOS devices, targeting the general public. Through the app, which is available in the United States and most countries globally, the company said that its users could buy and sell cryptos and arrange payments through different methods.

The app, a compliment of its advanced ‘Kraken Pro’ app, is targetting both novice and experienced cryptocurrency traders who can now buy Bitcoin and over 50 digital assets offered in the exchange. For US-based users, bank account deposits can be connected through the app to purchase cryptos. In fact, all customers can either buy and sell coins in preset amounts or by quickly entering a custom amount, Kraken said in the announcement.

Furthermore, mobile app users can review their orders and past trades, the value of each investment and its portfolio percentage, and monitoring the prices of the cryptos listed by the US-based exchange. Other apps have already been launched within the platform, including Kraken Pro, where users can do margin trading, place advanced order types, and access multiple charting and order book display options.

In Kraken Futures, customers could arrange transfers between Kraken Spot and Kraken Futures markets while accessing educational resources.

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However, the exchange clarified that its brand-new app is not available in Japan, Afghanistan, Congo-Brazzaville, Congo-Kinshasa, Cuba, Iran, Iraq, Libya, North Korea, Syria, Tajikistan, among others with restricted access.

Will Kraken Go Public?

The announcement comes a few months after the California-based company announced its intentions to go public via a direct market listing in 2022. Finance Magnates reported that there could be a traditional initial public offering (IPO) or a merger with a blank check acquisition company.

However, Kraken later clarified that it is only considering a direct stock market listing in the meantime.

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