Kraken, one of the world’s most trusted and established crypto platforms, has announced the phased launch of the Krak Card, a new payment experience that offers 1% cashback on every purchase along with powerful new financial features such as salary deposits and expanded wealth-building tools. With this rollout, Kraken aims to close the gap between digital assets and everyday financial life, giving users more reasons to consider replacing traditional banking with a modern, multi-asset alternative.
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The Krak Card marks a significant evolution in how users can spend and manage their holdings. Initially launching across the UK and EU, the card will be available in both digital and physical formats and comes in two color options. It enables customers to spend instantly from multiple balances with no monthly or foreign-exchange fees. Users earn 1% cashback on every transaction paid in either fiat or Bitcoin making it one of the most competitive crypto-friendly card programs available in Europe.
Powered by Mastercard’s global network, the Krak Card supports seamless spending across more than 400 crypto and fiat assets within the Kraken app. This means a single transaction can be covered using a combination of balances. For example, users could pay £100 at checkout by using £80 from their fiat balance and £20 from their Bitcoin or Ethereum holdings. With smart asset-priority settings and the ability to exclude certain coins from being spent, Kraken puts complete control in the user’s hands. As Mark Greenberg, Kraken’s Global Head of Consumer, explains, “Everything is money. You should be able to use whatever assets you hold to pay for everyday goods and services.”
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Kraken is also expanding its wealth-building capabilities with the introduction of Vaults. Since launch, the company has offered competitive yields of up to 3.6% on eligible assets, but Vaults take this a step further by integrating with audited DeFi lending protocols. This opens the door to potential returns above 10% APY, depending on market and user risk preferences. Vaults aim to make DeFi yields more accessible, secure, and seamless—turning idle assets into daily earning opportunities.
To make the ecosystem even more convenient, Kraken will soon roll out salary deposits for users in the UK and EU. This feature will allow customers to receive their payroll directly into Kraken, making it simpler than ever to get paid, grow wealth, and spend—all within one platform. The feature will expand to additional regions over time.
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The launch of the Krak Card is a key part of Kraken’s broader European strategy, strengthened by its growing regulatory presence. With its MiCAR license fully activated by the Central Bank of Ireland, Kraken has secured regulated access to offer services across the entire European Economic Area. The company’s long-standing ties to the UK, where it has operated under FCA oversight since 2013, further solidify its foundation as one of the most reliable crypto platforms in the region.
Overall, this latest development signals Kraken’s continuous push to bring everyday financial freedom to its users, blending the power of digital assets with the convenience of modern banking without the limitations of legacy financial institutions.
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