Coinbase’s rival Kraken launches mobile crypto trading in the U.S.

Kraken, the world’s major cryptocurrency exchange, has launched a mobile crypto trading application, a new initiative designed to promote adoption by the U.S. industry.

the company Announce On Wednesday, its new app is now available to iOS and Android users in most parts of the United States and other countries/regions in the world.

The application allows users to trade more than 50 cryptocurrencies, such as Bitcoin (Bitcoin) And ether (Ethereum) Via smartphone.move follow The Kraken mobile app was launched in Europe in January this year.

According to reports, Kraken Chief Product Officer Jeremy Welch (Jeremy Welch) said: “This consumer app is our first major attempt to support wider consumer adoption in a simplified and easy-to-use interface. .” famous.

Welch said that the release of the new application coincided with the increase in Kraken’s transaction volume by more than six times since May of this year. “The past five months have been very untrue in Kraken. We have seen a surge in new customers and a record high,” he added.

According to reports, Kraken was launched in 2013 and has 7 million customers so far. It is one of the world’s largest crypto trading venues, competing with companies such as Binance, Huobi, and Coinbase.Exchange is Rank According to data from CoinMarketCap, at the time of writing, it is the fourth largest cryptocurrency trading platform in terms of daily trading volume.

Kraken’s new app will not be supported across the United States because the exchange Not provided Provided services to residents of Washington and New York due to the “cost of maintaining regulatory compliance.” The company is registered as a money service business with FinCEN of the U.S. Department of the Treasury and stated that its operations comply with “the legal and regulatory requirements of all jurisdictions.”

The new availability is less than two months after the release of Kraken’s main competitor, Coinbase Exchange, Listed on NASDAQ In April. Subsequently, the main investment trust RIT Capital Partners Acquired shares of Kraken, RIT executive James Glass pointed out that according to reports, the cryptocurrency exchange will be listed through a direct listing in 2022.Bloomberg reported in February that Kraken is negotiating new funding This may double its valuation to $10 billion.