PayPal, Block slip after Kraken launches peer-to-peer payments app

TipRanks

Fri, Jun 27, 2025, 11:20 AM 1 min read

As previously reported, Kraken co-CEO Arjun Sethi announced in a blog post earlier that the company has launched its own peer-to-peer payments app, Krak. “Krak is an all-in-one global money app built from the ground up on crypto infrastructure. It blends the familiarity of traditional finance with the speed, openness and flexibility of modern blockchain networks. Krak isn’t just another wallet or payments tool. It’s a full-stack rethink of how money should work,” Sethi wrote. In Thursday morning trading, shares of PayPal (PYPL) and Block (XYZ) are each down about 1%, while Visa (V) and MasterCard (MA) are both down fractionally as well.

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