Arjun Sethi, Kraken Co-CEO stated that the company spent over a decade building a global cross-border money transfer system through money transmitter licenses across all relevant jurisdictions, enabling Krak to operate without relying on traditional financial infrastructure

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We’re able to move money across borders right off the bat, because that’s what we do from a trading perspective in our venues, and we’ve actually already spent over 10 years building out that system for money transmitter licenses… in all the jurisdictions,” Arjun Sethi, co-CEO of Kraken
Kraken co-CEO Arjun Sethi said that the app was built to compete with a financial system "stuck in the past