Kraken builds comprehensive wallet for onchain financial life

Kraken has been quietly assembling something that looks less like a crypto wallet and more like a full-stack financial operating system. The exchange’s wallet now supports self-custody, DeFi, tokenized assets, and payments, effectively blurring the line between a centralized exchange and the decentralized world it was originally built to give users access to. From launch to embedded everything Kraken Wallet first hit mobile devices on April 17, 2024, built as a self-custodial tool spanning Bitcoin, Ethereum, Solana, and over 12 networks. From the start, it was designed to function independently of a Kraken exchange account, letting users manage tokens, NFTs, and DeFi positions on their own terms. But the real acceleration came later. In July 2026, Kraken acquired Magic Labs’ embedded wallet business, a move that fundamentally changed how users interact with the app. The acquisition allowed Kraken to bake wallet functionality directly into its main trading interface, removing the friction that has historically kept casual users away from onchain activity. The result: as of mid-2026, the Kraken app supports trading of over 2,500 verified Solana tokens through embedded wallets. No see...