What Happened: The Kraken App would automatically connect with the existing Apple Pay or Google Pay account of customers, the San Francisco-based company said in a blog post.
The app has a minimum purchase amount of $10 and a maximum purchase limit of $7,500 during a seven-day rolling period.
Kraken supports trading of a host of cryptocurrencies including but not limited to Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), Dogecoin (CRYPTO: DOGE), Bitcoin Cash (CRYPTO: BCH) and Ethereum Classic (CRYPTO: ETC).
See Also: How To Buy Bitcoin (BTC)
Why It Matters: The integration of payment methods like Apple Pay and Google Pay with the Kraken app will make it easier for the company’s customers to buy cryptocurrency.
The move also comes after Kraken’s rival Coinbase Global Inc. (NASDAQ:COIN) said in August that it is introducing cryptocurrency purchases with linked debit cards to Apple Pay and Google Pay, with instant cash-outs up to $100,000 per transaction.
Globally, Kraken’s client base trades more than 90 digital assets and 7 different fiat currencies.
The company said in August it plans to expand in Europe by the end of the year.
Price Action: Bitcoin is down 1.5% during the last 24 hours, trading at $42436.19 at press time, while Ethereum is down 3.7% during the 24-hour period to $2,937.50.
Photo: Courtesy of Kraken