Kraken has introduced the Krak Card, a debit product offering 1% cash-back rewards, spending controls, and new features such as salary deposits and additional wealth-building tools.
The initiative is positioned as part of Kraken’s broader strategy to provide customers with a multi-asset financial alternative built for the digital economy.
As the rollout begins across the UK and EU, the Krak Card is being offered in both physical and virtual formats, with two design options. The card enables real-time spending across multiple balances without foreign-exchange or monthly fees. Purchases earn 1% cash back, redeemable in local fiat currency or Bitcoin. The card is supported by Mastercard’s global payments network and integrates with more than 400 crypto and fiat assets available through the Krak app, allowing instant conversion of holdings at checkout.
A flexible multi-asset spending system
Users can combine balances during transactions, such as covering a GBP 100 purchase with GBP 80 in fiat and GBP 20 in a digital asset, including Bitcoin, Ethereum or Solana. The app allows customers to set prioritised spending rules and exclude specific assets, providing detailed control over how purchases are funded. This arrangement is intended to simplify the integration of digital assets into everyday financial activity.
Kraken is also expanding its asset-growth functionality. The platform currently enables instant transfers in more than 160 countries and offers yields of up to 3.6% on eligible assets. The introduction of Vaults will extend this offering, giving users access to audited DeFi lending protocols targeting returns of more than 10% APY. Vaults are designed to support tailored risk-managed strategies, offering diversification and more competitive reward structures than many legacy financial institutions. In parallel, Krak will introduce salary-deposit functionality for UK and EU customers, enabling direct payroll integration with the Krak ecosystem.
Additional data underscores Kraken’s expansion across Europe. The company recently activated its MiCAR licence through the Central Bank of Ireland, granting regulated access across the European Economic Area.
