Kraken has begun a phased rollout of the Krak Card,
introducing a new spending product that offers 1% cash-back rewards and
supports payments using multiple asset balances. The launch is part of an expansion of features in the Krak app, including salary deposits and
new options for generating returns on digital assets.
Digital
assets meet tradfi in London at the fmls25
The rollout follows regulatory progress in Europe. Kraken
recently activated its MiCA license, authorized by the Central Bank of
Ireland, allowing it to offer services across the European Economic Area. The
company has operated in the UK since 2013 and remains among FCA-registered crypto
platforms.
UK, EU Users Access Krak Card
The company said the card will be released first in the UK
and EU, with more markets planned. It will be available in physical and virtual
formats and will support instant spending with “no FX or monthly fees.”
Customers can choose to receive the cash-back reward in local currency or
Bitcoin.
Mark Greenberg, Kraken’s Global Head of Consumer, said the
platform views digital assets as part of everyday finance. He stated that
“everything is money” and added that users should be able to use their assets
“to pay for everyday goods and services.”
The card uses Mastercard’s payments network and allows
spending from more than 400 supported crypto and fiat assets. Asset conversion
takes place at checkout. Kraken said users can decide the order in which assets
are spent and exclude certain balances from payments.
Introducing your new debit Card + Money App 💳📱• 1% cashback on every spend• 400+ currencies — cash & crypto• Fee-free spendingGet your Krak Card now 👇https://t.co/tfArZ6D6yd pic.twitter.com/aiiMg8NAsV
— Krak (@Krak) November 25, 2025
Customers Can Earn, Deposit, Spend Assets
Kraken also outlined a new feature called Vaults. The
company described it as a way to give customers access to DeFi lending
protocols targeting returns of “up to 10+% APY.” The service is intended to
turn idle balances into daily earnings and allow users to adjust strategies
based on their risk preferences.
Salary deposits will be introduced for customers in the UK
and EU, with further regions to be added. Kraken said the feature is designed
to link income, asset growth, and payments within one ecosystem.
This article was written by Tareq Sikder at www.financemagnates.com.
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