Kraken, the second biggest cryptocurrency exchange in the United States, has revealed its latest mobile wallet.

Named Kraken Wallet, this new offering follows the path of other big platforms like Binance, OKX, Coinbase, Bitget, and Bybit.

Kraken Wallet is designed to help users manage their digital tokens, NFTs, and DeFi across different blockchain networks like Bitcoin, Ethereum, Polygon, Dogecoin, Base, Solana, and Arbitrum. Users can also connect to popular decentralized applications and get customer service support 24/7.

Kraken has shared the code for the Wallet on GitHub, showing their commitment to transparency and inviting outside feedback to improve the wallet's infrastructure. They've even set up a grant program to reward developers who find vulnerabilities.

When it comes to user privacy, Kraken Wallet takes steps to protect customer information by collecting as little data as possible. It doesn't store sign-in details, email addresses, or KYC data, and it hides user IP addresses. Plus, it doesn't track internal app performance, ensuring maximum privacy.

Despite these security measures, Kraken acknowledges that its wallet is still a hot wallet due to limitations with Apple iOS CryptoKit. This means it needs internet connectivity and additional software for transaction signing, which could expose private keys during the process.

Eric Kuhn, the Product Director for Kraken Wallet, stressed the platform's commitment to privacy and open-source code, in line with the crypto community's values. He highlighted Kraken's long-standing support for self-custody of assets, a message they've been promoting for over ten years.

Kraken has been expanding its product lineup, recently launching Kraken Custody, a platform for institutional-grade custody of assets. They're also reportedly exploring the development of their own layer 2 blockchain, following in the footsteps of Coinbase's Base.

Kuhn reiterated Kraken's dedication to the "your keys, your crypto" ethos, promising to create the best all-in-one crypto wallet that prioritizes openness, security, and privacy. While welcoming competition, Kraken remains focused on providing a superior solution for users seeking a secure and versatile crypto wallet.

In conclusion, Kraken's new crypto wallet offers support for multiple blockchains while prioritizing user privacy and security. With its commitment to transparency and open-source development, Kraken aims to provide a top-tier solution for managing digital assets in the decentralized finance space.