Crypto exchange Kraken is set to launch a revised mobile app that emphasizes AI-enhanced investment tools. This strategically redesigned platform aims to assist users in setting specific financial objectives while tailoring recommendations to meet their individual goals.
Upon accessing the app, users will provide information about their financial goals, risk tolerance, and personal preferences. The application then curates a suggested investment portfolio, which users can review before committing any funds. Following the investment phase, the app offers continuous updates and suggestions for trades, allowing users to maintain control over their investments. This feature is referred to by Kraken as its 'financial intelligence' layer.
Chief Data Officer Kamo Asatryan noted that the intention behind this initiative is to equip everyday investors with the same level of market insights as more active traders on the exchange. Asatryan emphasized the potential for average users to engage in high-frequency trading with straightforward, easily understandable advice.
Importantly, while the AI continuously scans the market and highlights potential trading opportunities, it will not independently execute trades. Any recommended trades require explicit user approval, positioning the app as a supportive decision-making tool rather than an automated trading system. Investment guidance on crypto assets comes from Payward Interactive, with Kraken Adviser, an SEC-registered entity, handling advice related to securities.
Competitive Landscape in AI Trading Tools
Kraken is not the only exchange enhancing its offerings with AI technology. Major competitors, including Coinbase, Gemini, and Binance, are concurrently developing similar features. Gemini was the first major US platform to introduce agentic setups in April, followed by Coinbase's launch of its Coinbase Advisor in June. This tool functions as a robo-advisor registered with the SEC.
Additionally, OKX has initiated a beta marketplace that incorporates AI agents capable of performing transactions and tasks on-chain. Despite the competition, Kraken aims to distinguish itself by focusing on user empowerment through its AI-driven features.
Revolut's AI Upgrade
On the same day that Kraken announced its app overhaul, fintech company Revolut introduced an upgrade to its Revolut X exchange, allowing customers to connect various AI assistants. These include Claude, Gemini, Cursor, and OpenClaw, enabling users to conduct market analysis and trade through plain language prompts. Similar to Kraken, Revolut emphasizes that user approval is required for all trades.
This article is for informational purposes only and does not constitute financial advice.
