Kraken Debuts Instant Crypto Payments Offering Kraken Pay

Kraken Pay allows users to choose the crypto or fiat currency in their accounts that they want to send and transmit that payment instantly, according to a Wednesday (Jan. 29) company blog post.

“The process takes seconds and is free,” the post said. “Better yet, if you only have bitcoin but your friend only wants Swiss francs, Kraken will manage both the asset conversion and settlement transfer in one step. This means all you have to do is choose an asset from your account and then choose which asset your friend wants to receive.”

Payments are sent via a paylink, a URL that can be sent over any messaging service, per the post. The recipient clicks on the link to accept payment.