Kraken to relaunch its mobile app with agentic trading and advice at the center

Crypto exchange Kraken is relaunching its mobile app to put agentic trading at the center of its user experience, according to a blog shared with The Block on Friday.

"Unlike other trading platforms, this won't be an AI assistant or a copilot bolted onto the old version of the app," the blog reads. "The financial intelligence is built into the fabric of Kraken itself. That's what will make it feel alive."

Kraken is not the only crypto exchange looking to AI to revamp its trading experience. Gemini, in April, was the first major U.S. exchange to open its platform and APIs to its users’ agentic setups.

Then, in June, during Coinbase's major "System Update," the exchange unveiled its upcoming Coinbase Advisor feature, an SEC-registered AI-powered financial advisor that has been described as a "robo-advisor on steroids." Other exchanges, including OKX and Binance, have also been adding AI capabilities.

Kraken's agentic system will feature autonomous AI agents capable of monitoring markets, suggesting trades, and even executing on behalf of users. These bots will also reportedly be able to follow prompts and learn from their outcomes. CNBC was first to report on its agentic trading plans.

"From the moment you open the new Kraken app, it responds to you. You set what you're working toward, and the app shapes itself around you, then works in the background around the clock to help you get there," the blog notes.

Kraken's offering also appears to be similar to a full-fledged advisory system, which can curate market insights, news, and investment suggestions based on a user’s portfolio and preferences. And like other AI-powered trading tools, it will also feature important guardrails and safety features, reflecting users’ risk tolerance.

That said, the blog notes that any "investment advice on crypto assets is provided by Payward Interactive, Inc. ("PWI")," while "investment advice on securities is provided by Kraken Adviser LLC, an SEC-registered investment adviser." PWI and Kraken Adviser are separate legal entities.

The move comes amid a wave of product launches at Kraken, including crypto perps in the U.S., Solana DEX trading via its main app, tokenized IPO access, expanded lending programs, among other features, tools and upgrades.

Founded in 2011, Kraken also began making moves last year to prepare for a potential public offering.