In a bold foray into the TradFi space, crypto trading platform Kraken has launched a peer-to-peer payments app, reviving interest in wallet-related tokens like Best Wallet Token.
An all-in-one global money app, Kraken’s latest innovation puts it in direct competition with the likes of Block’s CashApp, Paypal, and Venmo.
Krak, launched yesterday, is available in 160+ countries and supports 300+ currencies. That includes crypto, fiat, and stablecoins. The app is free to download and lets you hold, send, receive, and easily convert funds, with transfers taking place within seconds.
“We’re able to move money across borders right off the bat, because that’s what we do from a trading perspective in our venues,” says Kraken co-CEO Arjun Sethi in an interview with Reuters.
“We’ve actually already spent over 10 years building out that system for money transmitter licenses… in all the jurisdictions. You have to do that as an exchange anyways, and so what we realized is that our customers just wanted to do more with their money.”
Crypto transactions via the Krak app will run on blockchain rails, while fiat transfers will be processed in-house by Kraken, bypassing traditional banking networks entirely.
Funds are safeguarded by top-tier security standards and backed by verifiable Proof-of-Reserves.
Krak is running a referral program – if you use the app and invite a friend who creates their own account, you’ll both receive $10. Meanwhile, if you hold $USDG, you’ll earn 4.1% rewards that you can withdraw at any time.
Most transfers through Krak are free, but for those that are not, the relevant fees will be displayed upfront for full transparency and no surprises.
Future Krak offerings will include physical and digital payment cards and upfront payment solutions such as lending services.
Crypto Players Grasp the Bigger Picture
Platforms like Kraken, Binance, and Coinbase are steadily broadening their horizons beyond their crypto-trading roots.
Last month, for instance, Kraken announced plans to introduce tokenized versions of US stocks – dubbed xStocks – for trading in select non-US markets. Similarly, Coinbase is seeking SEC approval to turn shares of public companies into blockchain-based tokens.
Savings tools, debit cards, stock trading, and lending solutions are among the more traditional services crypto platforms are now bringing to the table. It’s a shift that reflects the growing demand for all-in-one financial tools that merge crypto with traditional finance.
It’s a trend also seen in the best crypto wallet platforms. Wallets are increasingly integrating staking, fiat payments, on-ramping, and yield-earning options to give users more utility and control over their digital assets.
All Eyes On The Best Wallet Token
One of the top No KYC crypto wallets – Best Wallet – is a prime example. Free to download, fully non-custodial, and with no KYC requirements, the app gives you easy access to and complete control over your digital assets.
Aside from buying, selling, and holding crypto, it allows for staking, DeFi, fiat on-ramping, cross-chain swaps, portfolio management, and Web3 access.
Best Wallet is also the only crypto wallet that gives you access to the top crypto on presale. And that includes its very own native crypto, the Best Wallet Token ($BEST). And at the moment, all eyes are on this exciting new crypto.
That’s because $BEST drives Best Wallet’s mission to dominate 40% of the $11B crypto wallet market by the end of next year.
$BEST holders also get lower transaction fees, and higher staking rewards through a built-in staking aggregator. You’ll also have a say in the project’s direction through community governance rights.
The Best Wallet Token’s tokenomics make sense for a project in accelerated development. Of the 10B total token supply, 2.5B is allocated to development, and 3.5B to marketing. Those are both vital to the Best Wallet app reaching its target of 40% market domination.
If the presale numbers are anything to go by, investor interest appears strong, with $13.58M already raised.
As crypto platforms, from exchanges or wallets, expand their services, $BEST is in a good position to explode when it lists on DEXs and CEXs. Take a look at our Best Wallet Token price prediction for more insights.
So if you’re on the lookout for the top presale of the year, $BEST is well worth checking out. Currently, 1 $BEST costs $0.025245, and you can stake it for 102% APY. Being a presale, though, staking rewards are dynamic, and the price will increase in stages.
Find out more in our comprehensive guide to buying $BEST today. The Best Wallet Token whitepaper is another useful resource. As for project updates, you can stay up to speed through the $BEST X channel.
Strap In as Crypto Gathers Momentum
There’s no doubt about it, the crypto market is evolving at a relentless pace. And as digital assets become more mainstream, we expect the plethora of related services from platforms (hello, Kraken), wallets (here’s looking at you, Best Wallet), and other crypto players to gather momentum.
That makes the Best Wallet Token a contender for the top presale tokens of the year. But if you’re thinking of investing in $BEST, please be sure to first do your own research. The crypto market is unpredictable, and you don’t want to be caught off guard.
