
Kraken adds AI investing assistant to app
- Kraken is adding an AI assistant that suggests investments based on users' financial goals.
- The AI recommends trades, but users must approve every transaction.
- The update expands Kraken's move into AI-powered financial services.
Kraken is launching an AI investing assistant that suggests investments based on each user's goals, risk level and financial profile.
Users can set goals such as buying a home, saving for retirement or building an emergency fund before receiving personalised recommendations.
"There's an opportunity for everyday people to become high-frequency traders and do so using plain English," said Kraken Chief Data Officer Kamo Asatryan.
Kraken said the AI watches markets, finds opportunities and suggests trades, but it cannot place orders without the user's approval.
The app also provides personalised portfolio updates and investment ideas based on each user's holdings.
Other companies, including Coinbase, OKX and Revolut, have also introduced AI tools for investing and trading.
Kraken said the new app is part of its plan to offer more financial services beyond cryptocurrency trading.