Kraken, one of the world’s longest-standing crypto platforms, has announced the phased rollout of the Krak Card, offering 1% cash back on all purchases, along with new features including salary deposits and expanded wealth-building options.
The Krak Card will first be available to users in the UK and EU, with additional markets to follow.
Offered in physical and virtual formats, the card allows instant spending using multiple balances with no foreign exchange or monthly fees.
Cash back can be received in local currency or Bitcoin.
Powered by Mastercard, the card supports over 400 crypto and fiat assets within the Krak app, enabling real-time conversion at checkout.
Users can select which assets to spend first and exclude certain holdings.
“To us, everything is money. You should be able to use whatever assets you hold to pay for everyday goods and services in the digital era we live in,”
said Mark Greenberg, Global Head of Consumer at Kraken.
Krak is also introducing Vaults, a feature that integrates with audited lending protocols to provide potential returns of over 10% APY, allowing users to convert idle assets into earnings while tailoring strategies to individual risk profiles.
Salary deposits for UK and EU customers will link income directly to the Krak ecosystem, with expansion planned for other markets.
The card launch aligns with Kraken’s European growth strategy and regulatory framework, including its Markets in Crypto-Assets Regulation (MiCAR) license, authorized by the Central Bank of Ireland.
Kraken has operated in the UK since 2013 and holds FCA registration.
Featured image credit: Kraken
