The Kraken Wallet, a recent addition to Kraken's product lineup, allows users to manage their digital assets on various blockchain networks. This mobile wallet permits users to have full control over their digital assets without compromising security. The Kraken Wallet is designed to handle non-fungible tokens (NFTs) and support other decentralized finance (DeFi) operations, distinguishing itself from other exchanges through its commitment to open-source development.

To enhance the security of the Kraken Wallet, Kraken made its source code available on GitHub for review by developers worldwide. By using open-source methodology, Kraken aims to improve the security of the wallet and build trust among crypto enthusiasts. The new wallet also prioritizes user privacy by limiting the data collected, concealing IP addresses, and not requiring login details, email addresses, or KYC data. Kraken underscores the importance of user privacy by ensuring that internal app performance metrics are not collected.

Although the Kraken Wallet is built with robust security features, it is considered a hot wallet because iOS's CryptoKit does not support secp256k1, the required elliptic curve.

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