Kraken is rebuilding its app for proxy trading as crypto exchanges evolve beyond crypto
Kraken is preparing to relaunch its app with agent trading at its core, a development that could mark the next big competitive platform for crypto exchanges, the company told CNBC exclusively.
Agent trading is when AI agents make automated trading decisions, execute trades and manage portfolios, based on human input. Unlike traditional automated systems that follow fixed rules, agent platforms can evaluate multiple variables, learn from new information and pursue goals defined by a human being in command, within established parameters.
Kraken said its platform will give users access to agents who can continuously monitor markets, identify investment opportunities and execute trades in real time. The launch reflects a broader shift towards artificial intelligence financial products such as large-scale language models and autonomous systems that are reshaping the way investors interact with the markets.
“AI will help everyday people respond to market conditions the way our most active traders react. We see even in down markets that our traders are more active, they interact with the platform, they continue to trade – and it’s important for everyday customers to have that ability and to have the same knowledge as professional traders,” said Kamo Asatryan, chief data officer at Kraken.
That view reflects structural change such as the rise of mobile trading or algorithmic investing. Making financial services a mobile experience and giving people trading apps may have given them access, but it hasn’t made everyone confident, successful investors. Kraken believes that AI can close that gap by bringing all of its customers closer to the knowledge and support that pro traders always have.
The app’s login experience uses AI to learn users’ goals, risk tolerance, funding preferences and financial profile in one systematic way. Based on that information, the AI creates a draft portfolio that users can review, edit and approve, while providing explanations behind its recommendations. Once invested, users receive AI-selected insights, relevant portfolio stories and actionable recommendations, such as identifying opportunities to improve passive income. Over time, the platform aims to use AI to improve both the chat and the app’s interface.
Experience is natural, but not completely independent. While AI continuously identifies opportunities and recommends next steps, it does not take action on its own. Trading and recommendations are done only with transparent customer verification, which keeps them in control of all decisions.
“Talking to Kraken should be like talking to your best friend who knows a lot about finance but also knows a lot about you, knows about your goals, knows about what you care about, and can help you explore all these different options, all the different assets, products, markets to achieve your goals without you wanting to be an expert and a professional trader,” said Asatryan.
That’s also part of a broader shift, where AI is becoming part of the core infrastructure rather than a feature, and where the key relationship is increasingly shifting from human users to agents managing their finances. Companies that successfully integrate independent trading power can get a limit on engagement, trading activity and retention.
The opportunity to discuss AI investment opportunities “will open up a lot of access, a lot of engagement from everyday people,” Asatryan said. “Traditionally, that’s been the province of professional traders and all the indicators and API usage and high-frequency trading work they do. But in this new world, there’s an opportunity for everyday people to become high-level traders and do so in plain English just by talking to their knowledgeable best friend.”
Kraken joins a wider industry push towards AI-powered crypto services – rival exchanges Coinbase again Gemini they recently introduced AI-assisted trading tools and engineers, for example – during a long bear market in crypto asset prices, which is often a time for industry players to put their heads down and focus on innovation.
Asatryan said the growing role of AI in crypto represents a “real growth opportunity,” not just the latest bear market fad.
“Usually exchanges have problems in bear markets because most of their customers have problems in bear markets,” he said. “[They] join those conversations because of FOMO. … They buy a lot, sell when prices go down and fluctuate. What we saw on our platform [traders] they are able to take advantage of any price movement and are able to continue to engage with different market cycles.”
Kraken is one of the oldest crypto exchanges, founded in 2011. Asatryan said its core user base includes institutions, trading firms, professional traders and active traders. Its retail users have probably been trading crypto for years.
He also talked about the new set of customers Kraken “wants to bring online” as it “comes beyond exchanges” and “looks to build a full financial services platform across payments, banking, lending” and more.
“These are areas that haven’t been touched by crypto historically, but with stablecoins and token assets, there’s a lot more access and capability, use cases and resources outside of exchanges,” Asatryan said. “AI will make all of that accessible to everyone. That’s coming in the future.”
