Kraken Adds Apple, Google Pay Support to App
- The app was designed to make the user experience seamless by automatically connecting to a user’s Apple Pay and Google Pay account.
- Previously, users had to copy and paste deposit details from their bank app when making crypto purchases.
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Popular cryptocurrency exchange Kraken will now allow its users to purchase crypto using Apply Pay and Google Pay directly from its app, the exchange said in a blog post on 21 September.
According to the announcement, the integration is part of Kraken’s commitment of making crypto purchases easier and faster for its users. The updated app has been designed to automatically connect to a user’s Apple Pay and Google Pay accounts, making the user experience even more seamless. The Kraken team said in the blog post:
“With the addition of Apple Pay and Google Pay, we take yet another step forward making it easier to make crypto part of your daily experience. Happy trading!”
The new app simplifies the crypto purchasing process, as previously users were required to copy and paste deposit details from their banking application, as well as expand the payment methods people can use. The Kraken app has a minimum purchase requirements of $10, and a maximum limit of $7,500 during a seven-day rolling period.
Last year, Kraken became the first cryptocurrency firm to obtain an approval on its application to create a U.S.-based crypto bank in Wyoming. By acquiring a Special Purpose Depository Institution (SPDI) license, Kraken gained the ability to provide “comprehensive deposit-taking, custody and fiduciary services for digital assets”.
- Shortly after filing for bankruptcy on Friday, FTX experienced a hack that saw close to $500 million in tokens leaving the exchange.
- The Bahamas Securities Commission and the Financial Crimes Investigation Branch of the police have launched an investigation into the exchange to check if any criminal misconduct took place in FTX.
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- The Treasury Department’s Office of Foreign Assets Control (OFAC) is reportedly investigating Kraken for possible violations of U.S. sanctions.
- Unnamed sources have said the investigation began in 2019, and that the government agency was close to imposing a fine on the exchange.
- Binance and Kraken have both said they will not freeze the accounts of “innocent users”, unless there is a “legal requirement” to do so.
- Many crypto-related platforms have started actively working to support Ukraine, and will either make donations or provide emergency relief through crypto crowdfunding.