Cryptocurrency exchange Kraken has introduced a new premium membership offering called Kraken+ aimed at individual investors looking to enhance their trading experience and maximize returns on stablecoin investments. The subscription, which comes with a monthly fee of $4.99, provides users with a range of benefits to help them navigate the volatile crypto market landscape.
One of the key features of Kraken+ is the ability to trade up to $10,000 per month without incurring any trading fees. This can result in significant cost savings for frequent traders who are looking to minimize their expenses. Additionally, Kraken+ users have the opportunity to earn up to 4% APR on Global Dollar (USDG) holdings, a stablecoin backed by cash equivalents. This represents a substantial increase from the 2% APR that non-subscribers currently earn on USDG balances held on the platform.
To give users a taste of the benefits of Kraken+, the exchange is offering a 30-day free trial period, allowing individuals to test out the new tier before committing to a subscription. This move is part of Kraken’s strategy to differentiate its offerings and retain users in a competitive market environment.
Kraken’s decision to roll out Kraken+ is part of a broader effort to strengthen its product suite and expand its market presence. The recent acquisition of US-based retail futures trading platform NinjaTrader for $1.5 billion underscores the company’s commitment to offering a diverse range of crypto futures and derivatives within a regulated framework. Additionally, Kraken is reportedly exploring a $1 billion debt raise in preparation for a potential initial public offering, signaling its shift towards more institutional ambitions.
In addition to the launch of Kraken+, the exchange has also made USD-to-USDG conversions free for all users, making it easier for individuals to access stablecoin rewards. USDG, issued by Paxos in collaboration with Kraken, Robinhood, and Anchorage, is regulated by the Monetary Authority of Singapore and is available on both Ethereum and Solana blockchains.
Furthermore, Kraken has introduced recurring crypto purchase options for US users, allowing them to set up automatic bank transfers to dollar-cost average into their chosen assets without incurring any deposit or processing fees. The company plans to expand this feature globally in the future.
As competition in the crypto trading space intensifies, Kraken’s launch of Kraken+ reflects a broader trend towards tiered services designed to provide users with added value and convenience. With more updates and product integrations on the horizon, Kraken remains committed to offering innovative solutions to meet the evolving needs of its user base in the months ahead.