Crypto Currents: Kraken launches global money app
BITCOIN LAYER ONE INNOVATION: A new challenge has been launched by a project called Torram to bring institutional-grade financial applications directly to Bitcoin’s Layer One. For years, complex applications like lending platforms, decentralized exchanges, and stablecoins have typically operated on other blockchains like Ethereum. This new initiative aims to change that, offering 3M of its tokens to developers who can build these applications natively on Bitcoin itself, a move that could unlock trillions in value and profoundly transform what the original blockchain is truly capable of, broadening its utility.
KRAKEN LAUNCHES GLOBAL MONEY APP: Kraken, a major global cryptocurrency exchange, has launched ‘Krak,’ their ambitious new all-in-one global money app, built entirely on crypto infrastructure. Kraken co-CEO Arjun Sethi states that Krak aims to fix the ‘broken’ traditional financial system, plagued by slow, costly, and opaque transactions. With Krak, users can instantly send and receive funds across over 160 countries using unique ‘Kraktags,’ and seamlessly transact across more than 300 assets – including fiat, crypto, and their stablecoin, USDG (USDG), which offers up to 4.1% APR. Built on permissionless blockchains, Krak emphasizes fast, borderless, and open financial services, eliminating traditional fees and delays.
CRYPTO STOCK PLAYS: Publicly traded companies in the space include Bit Digital (BTBT), Coinbase (COIN), Core Scientific (CORZ), Greenidge Generation (GREE), Mara Holdings (MARA), Strategy (MSTR), Riot Platforms (RIOT) and TeraWulf (WULF).
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