Kraken launches AI-powered investing assistant in new app

Cryptocurrency exchange Kraken has launched a redesigned mobile application that places artificial intelligence-powered financial tools at the center of its user experience, shifting the platform toward goal-based investing. The new system, which began rolling out this week, uses what the company calls "financial intelligence" to generate personalized portfolio recommendations but requires explicit user approval for every trade.

The updated app asks users to define specific financial objectives, such as saving for a home, retirement, or an emergency fund, along with their risk tolerance and funding preferences. It then uses this information, combined with continuous market monitoring, to create a suggested investment portfolio. Users can review and adjust these recommendations before committing any funds. After investing, the app provides ongoing portfolio updates and further suggestions tailored to the user's holdings.

Kraken Chief Data Officer Kamo Asatryan said the technology is designed to give everyday investors a level of market awareness typically available only to active traders by monitoring markets and identifying opportunities. He framed the goal as enabling...