Kraken announced the launch of a Mastercard-powered debit card offering up to 1% cashback and multi-asset spending across the UK and EU, marking the first phase of a broader global rollout tied to its KRAK money app. The move expands Kraken’s push beyond crypto trading into payments, equities, and futures as it prepares for a potential public listing.
Mastercard debit card debuts in UK and EU
The new Krak Debit Card lets users spend anywhere Mastercard is accepted while earning up to 1% cashback on purchases. Integrated with the global Mastercard network, the card is designed to draw directly from balances held in the KRAK app, enabling spending across digital and fiat holdings.
- Up to 1% cashback on eligible purchases
- Acceptance everywhere Mastercard is supported
- Multi-asset spending across hundreds of assets available in the KRAK app
- Phased rollout beyond the UK and EU planned
KRAK app: payments, savings, and investing
Kraken’s KRAK app is positioned as a global platform for payments, savings, and investing, centralizing both fiat and digital asset management. The company says the card extends that functionality to everyday spending by converting supported assets at the point of sale.
Kraken notes certain funding and withdrawal holds apply: cash deposits made via ACH Plaid are held from withdrawal for seven days, and debit/credit card purchases in USD may be subject to a 72-hour hold.
Broader expansion into equities, tokenized assets, and futures
The debit card comes as Kraken broadens its product set beyond crypto trading. In recent months, the company has launched equities and tokenized equity trading, and expanded access to U.S. futures. In May 2025, Kraken acquired retail futures platform NinjaTrader for $1.5 billion to accelerate its multi-asset strategy and user growth.
- Equities and tokenized equity trading added to the platform
- NinjaTrader acquired for $1.5 billion to bolster U.S. futures
- Commission-free stock trading introduced in New Jersey, Connecticut, Wyoming, and Rhode Island in partnership with Alpaca, with additional markets planned
- Bunq became the first European bank to use Kraken’s infrastructure to offer crypto trading to customers
Funding and IPO outlook
Kraken has raised $800 million across two recent funding rounds, reinforcing its balance sheet ahead of a planned initial public offering. The announcement comes amid a rebound in U.S. IPO activity and alongside increased capital raising across the crypto sector.
Company background
Founded in 2011, Kraken is a U.S.-based platform that facilitates trading in digital assets such as bitcoin and ether. Today, the company says clients can trade more than 450 digital assets, U.S. futures, U.S.-listed stocks and exchange-traded funds, and major fiat currencies.