Kraken Plans AI-Powered Trading App Overhaul, CNBC Reports
Kraken is overhauling its mobile app to include AI-powered financial tools that will recommend trades and tailor investing tools around users' financial goals.
Intelligence analysis by Llama
Kraken is redesigning its app to use AI to recommend trades and tailor investing tools around users' financial goals, allowing everyday investors to become high-frequency traders.
Kraken is updating its app to use AI to help people make smart investment decisions. The app will ask users about their financial goals and then suggest trades and investments based on that information. Users will still have to approve every trade before it's made, but the app will give them personalized advice to help them make informed decisions.
Analysis
A New Era in Trading: Kraken's AI-Powered App Overhaul
Kraken's decision to overhaul its app with AI-powered financial tools marks a significant shift in the way exchanges approach trading. By using AI to recommend trades and tailor investing tools around users' financial goals, Kraken is giving everyday investors the same market awareness as its most active traders. This move is part of a broader trend in the industry, where exchanges are increasingly competing to offer personalized investing tools beyond basic trading features.
The redesigned app will use AI to continuously monitor markets, identify investment opportunities, and recommend trades. However, every recommendation will require the user's approval before a trade is placed, with the company positioning the technology as a decision-support tool rather than an automated trading system. This approach is designed to give users more control over their investments and to provide them with the tools they need to make informed decisions.
Kraken's chief data officer, Kamo Asatryan, spoke to CNBC about the technology, saying that it is designed to give everyday people the same market awareness as the exchange's most active traders. He noted that there is an opportunity for everyday people to become high-frequency traders and do so using plain English.
The Rise of AI in Trading
The use of AI in trading is becoming increasingly popular, with exchanges and fintech firms embedding AI into their trading platforms. This allows users to analyze markets, manage portfolios, and place trades through conversational interfaces. In June, OKX launched a beta marketplace where AI agents can transact autonomously, complete onchain tasks, and build blockchain-based reputations. In the same month, Coinbase introduced a tool that lets AI agents make payments and trade cryptocurrencies on behalf of users using its x402 payments protocol.
The Future of Trading
The adoption of AI in trading is accelerating, with Chainalysis reporting that agentic payment activity on Coinbase's Base network had surpassed 100 million transactions. The report found that while transaction growth has stabilized, higher-value transfers have become more common, suggesting AI-driven payments are moving beyond micropayments and early experimentation. Fintech firm Revolut has also launched an upgrade to its Revolut X exchange, allowing customers to connect AI assistants to analyze markets, backtest trading strategies, and place orders through natural-language prompts.
Conclusion
Kraken's decision to overhaul its app with AI-powered financial tools is a significant development in the world of trading. By giving everyday investors the same market awareness as its most active traders, Kraken is opening up new opportunities for people to become high-frequency traders. As the use of AI in trading continues to grow, it will be interesting to see how this technology evolves and how it impacts the industry.
Key points
- Kraken is overhauling its app to include AI-powered financial tools
- The app will use AI to recommend trades and tailor investing tools around users' financial goals
- Users will still have to approve every trade before it's made
- The use of AI in trading is becoming increasingly popular
- Exchanges and fintech firms are embedding AI into their trading platforms
If Kraken's AI-powered app is successful, it could lead to more people becoming high-frequency traders and making informed investment decisions. This could also lead to more competition in the trading industry, which could drive innovation and better services for users.
However, there are also risks associated with the use of AI in trading. For example, if the AI system makes a mistake or is biased, it could lead to users making poor investment decisions. Additionally, the use of AI in trading could also lead to increased volatility in the markets, which could be detrimental to users.
