Kraken Launches Solana-Based DEX Trading on App to Expand On-Chain Access
Summary
- Kraken said it will launch a Solana-based decentralized exchange (DEX) service on its mobile app.
- Users will be able to trade tokens in the Solana ecosystem through the Kraken app without a separate wallet.
- Kraken said the service is part of its DeFi mullet strategy and that the core focus is accessibility.
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Kraken, the U.S. cryptocurrency exchange, is launching a Solana-based decentralized exchange service on its app.
The Block reported on June 18 that Kraken would roll out the service on its mobile app that day, allowing users to trade tokens in the Solana ecosystem. The company plans to add support for more networks later.
The service is built on Kraken’s wallet infrastructure, Privy, and major Solana decentralized exchange protocols. Users can trade decentralized exchange assets within the Kraken app without using a separate wallet.
Kraken described the launch as part of its “DeFi mullet” strategy. The approach combines a centralized exchange-style interface familiar to users with decentralized services.
Accessibility is the key, Kamo Asatryan, chief data officer and head of global consumer at Payward, Kraken’s parent company, said. Even when powerful technology runs underneath, buying, holding and selling crypto should remain simple.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
