Kraken and Grab Redefine the Future of Banking

Banking innovation has traditionally been led by regulated financial institutions, but crypto platforms and super apps are increasingly embedding financial services into trading, payments and everyday consumer activity. Kraken, through its digital-asset business, and Grab, through an ecosystem spanning ride-hailing, delivery and financial products, illustrate how non-bank companies can reshape where customers access finance and how quickly new services reach the market.

The latest report does not announce a transaction, funding amount or dated product launch. Instead, it marks a shift in where the author sees financial innovation emerging: away from waiting for incumbent banks and toward watching Kraken and Grab. Their large user networks, digital infrastructure and ability to connect finance with existing services are presented as forces accelerating fintech development and challenging the conventional bank-led model.