Kraken introduces global money app to fix financial system inefficiencies.
From Yahoo Finance: 2025-06-28 10:25:00
- Bitget crypto exchange released its June Proof-of-Reserves report, showing a 199% reserve ratio for all customer funds, including a 429% reserve ratio for Bitcoin. BTCC also reported a healthy total reserve ratio of 135%, aiming to build a more trustworthy market.
- Nasdaq partnered with Canton Network to upgrade the Calypso platform, solving a $1T collateral inefficiency problem for institutions using blockchain technology. This move aims to accelerate institutional adoption of digital assets, making them compatible with Wall Street’s risk management standards, enhancing liquidity and efficiency.
- Simplify Labs partnered with three major European fintech law firms to help crypto businesses launch in compliance with Europe’s MiCA legislation, providing a clear legal framework for the entire European Union. This initiative aims to reduce regulatory hurdles and make Europe more attractive for crypto companies.
- Torram launched a challenge to bring institutional-grade financial applications to Bitcoin’s Layer One, offering 3M tokens to developers. This initiative aims to unlock trillions in value and broaden Bitcoin’s utility by enabling complex applications like lending platforms and decentralized exchanges natively on the blockchain.
- Kraken launched ‘Krak,’ an all-in-one global money app built on crypto infrastructure, aiming to fix the traditional financial system’s inefficiencies. Users can send and receive funds across 160 countries using unique ‘Kraktags,’ transact across 300+ assets, and earn up to 4.1% APR with USDG stablecoin, emphasizing fast, borderless financial services.
- Publicly traded companies in the crypto space include Bit Digital, Coinbase, Core Scientific, Greenidge Generation, Mara Holdings, Strategy, Riot Platforms, and TeraWulf. These companies play a significant role in the crypto market’s evolution and growth.
Read more at Yahoo Finance: Kraken launches global money app