Kraken Launches Own Crypto Wallet to accelerate crypto adoption
Kraken, the second-biggest U.S.-based crypto exchange, announced today that it has released its own crypto and will be available to both Kraken users and non-users.
Presently, the new self-custodial “Kraken Wallet" supports only eight blockchains, including Bitcoin, Ethereum, Solana, Optimism, Base, Arbitrum, Polygon, and Dogecoin.
Meet the brand new Kraken Wallet: simple, secure, powerful.
🗝️ Manage multiple wallets
🌐 Multi-chain support
📊 Manage NFTs & DeFi positions
🔒 IP privacy & Encryption
📖 No client side tracking
Download now ⤵️https://t.co/EYHweJGDzV pic.twitter.com/jLbldh9j6k
In a blog post by Kraken, the highly regarded major cryptocurrency exchange will be the first to introduce its open-source mobile wallet. This means that every line of code Kraken deploys is available for third-party review, which developers can contribute to. Its open-source development highlights the heart of what crypto is all about: decentralization, transparency, and community.
The firm has also launched an open-source grant program to highlight and elevate great work that’s significant to helping cryptocurrencies reach their potential. Open-source developers that apply for the grant can help search for vulnerabilities to help improve the wallets in the event that there are bugs.
To bolster the security of the wallet, the team that has secured Kraken Exchange’s assets for over 12 years has provided multiple layers of security protecting users private keys: biometrics from mobile devices and user-provided password encryption.
Furthermore, Kraken wallet, in collaboration with Trail of Bits, a company that has helped secure some of the world’s most targeted organizations since 2012, performed a full-scale security audit on Kraken code to make sure nothing was missing.
The crypto exchange also stated that the privacy of user personal information, such as sign-in details, email addresses, or KYC information, is very important, and it will only collect the absolute minimum amount of data required to function as a wallet.
With a beautiful UX, Kraken wallet features comprehensive portfolio tracking, multichain support, WalletConnect integration, and a 24-hour customer support experience to ensure users' on-chain experience is a great one.
In the past few years, hardware wallet startups such as Ledger and Trezor have launched multiple products in order to help crypto beginners store their digital assets easily. Other major rivals already in the saturated field include MetaMask and Coinbase.
With a mission to welcome the world to the onchain future and address challenges in mobile crypto security, Kraken remains committed to supporting the open-source community, and Kraken Wallet furthers this commitment.
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