Kraken’s Bunq Bet and the Global Race for Crypto Users
Kraken is launching a new business solution called Kraken Embed to enhance its brand and market share. The exchange partnered with bunq, a Dutch neobank, which switched to Kraken for crypto integration at the last minute. This service allows bunq to offer over 400 crypto assets quickly in a regulated European market. Kraken Embed helps firms save on engineering, regulatory, and legal costs, enabling them to provide crypto trading without a license under the EU’s MiCA regulation. Despite competition from Coinbase and Binance, Kraken's offering could attract new users, especially as Coinbase faces a data breach that may cost it up to $400 million. Kraken aims to expand its user base beyond 13 million by partnering with more firms in Europe and potentially in the U.S., Canada, Australia, and the UK.
