Kraken launches fully-customizable desktop trading application inspired by its Cryptowatch tool

Crypto exchange Kraken has launched a new desktop trading application designed for active crypto traders to track dozens of live-market feeds via a fully-customizable interface that comes with proprietary charting and technical analysis tools.

The public launch of Kraken Desktop follows a successful private beta. According to a statement shared with The Block, it provides complete access to all of Kraken’s spot and futures markets and introduces new tools and functionalities that aim to offer the “most high-powered and comprehensive crypto trading experience."

Kraken Desktop draws inspiration from the highly popular Cryptowatch tool, the previous charting and trading terminal from Kraken that was sunset in July 2023, disappointing many users. 

“I'm still hopeful [Kraken co-founder Jesse Powell] sees the light, removes the freemium option, adds a flat fee, and keeps Cryptowatch as it is undisturbed, the perfect product,” well-known crypto trader Hsaka said at the time.

Powell initially sparked hope it would be retained in some form, asking what parts were important to keep and what pricing would be fair, but the sunset still went through. Instead, Kraken invited Cryptowatch users to switch to the advanced trading capabilities of its new Kraken Pro interface.

However, while designed to complement its existing web and mobile platforms, Kraken Desktop has now been re-engineered from scratch to build on Cryptowatch’s legacy and elevate users' trading experience.

“For more than a decade, Kraken has served active traders around the world by working tirelessly to offer some of the best trading, charting and analytical tools available in crypto,” Kraken co-CEO David Ripley said. “By elevating their trading experience with even more functionality and performance, we’re showing that active traders are always top of mind for us as we continue to expand our products and services.”

How Kraken Desktop works

Kraken Desktop leverages a Rust-native tech stack to provide traders with greater responsiveness and reliability, available for download on Windows, Mac and Linux. Rust's efficient and streamlined design enables a low-latency trading experience, allowing clients to react to market changes in real-time while using less memory, the team explained.

The application is optimized for trade execution and multi-window support and features advanced tools, including ladder trading for setting multiple limit orders and auto-join order shortcuts for smart two-sided order placement to take advantage of changing market conditions.

“Active traders play a crucial role in providing the crypto market with liquidity and facilitating price discovery, but to date there are very few platforms that are designed with this important cohort in mind,” Kraken Desktop Senior Engineering Manager Clark Moody said. “Kraken Desktop provides active traders with the powerful tools they need to further elevate their trading experience and their overall engagement in the crypto market.”

Kraken has unveiled a slew of new products for the crypto market in recent weeks, including the rollout of its own wrapped bitcoin alternative kBTC on Ethereum and OP Mainnet, and plans to launch its new Ethereum Layer 2 Ink in early 2025, built using the OP Stack.

However, it has not all been plain sailing for the firm. Kraken recently conducted another round of layoffs, a representative confirmed to The Block on Wednesday, the same day Arjun Sethi was announced as co-CEO to help accelerate growth alongside Ripley.