The Rollup How Kraken Is Building the Anti-Bank with Mark Greenberg
Dec 12, 2025
Mark Greenberg, Head of Kraken's Consumer Business, discusses the revolution of neo banks in replacing traditional finance. He highlights how Kraken's Crack app allows users to hold and spend any asset while offering features like on-chain yields. Greenberg elaborates on the exciting potential of tokenized equities (X Stocks) and shares insights on their rapid growth and adoption. Listeners learn about the innovative Crack Card, which delivers 1% cashback in crypto. The vision for democratizing access to global markets is a key theme throughout their conversation.
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Money Can Be Any Asset
- Banking still sucks because money can't be any asset yet; Kraken wants to change that by making many assets spendable and portable.
- Mark Greenberg argues users should be able to hold USD, stablecoins, crypto, or tokenized equities as money and spend them seamlessly.
Focus On Spend, Save, Send
- Offer three core capabilities: spend, save, and send money well to build a great neo bank experience.
- Support deposits, payroll, cards, and local bill pay to match or replace traditional banking features.
DeFi Yields Will Attract Users
- On-chain DeFi yields offer materially higher returns than traditional bank savings and will attract users.
- Kraken plans to expose 5–10%+ yield opportunities in Crack to compete with near-zero bank rates.