Online reports, according to CoinDesk, cryptocurrency exchange Kraken has launched a blockchain-driven global financial application "Krak" that allows users to conduct cross-border instant transactions at almost zero cost and obtain competitive returns on account balances. The app covers 110 countries and supports more than 300 assets, including cryptocurrencies, stablecoins and fiat currencies. Point-to-point transfers can be completed without filling in bank information or wallet address. Kraken said Krak aims to solve the problem of outdated rules in the traditional financial system, combining encryption technology with Kraken's banking network and payment partnerships.