Kraken has launched a Mastercard-powered debit card for customers in the UK and European Union, offering up to 1% cashback and multi-asset spending through its new KRAK money app, as part of a phased global rollout.
Mastercard debit card with multi-asset spending
The new Kraken debit card is accepted anywhere Mastercard is supported and enables cardholders to spend balances held in the KRAK app. Kraken said the integration allows spending across hundreds of supported assets — including cryptocurrencies and fiat — with purchases settling in local currency at the point of sale. The company said eligible transactions can earn up to 1% cashback, with terms and conditions applying.
- Issued on the Mastercard network for UK and EU users
- Supports multi-asset spending from KRAK app balances
- Up to 1% cashback on eligible purchases (terms apply)
KRAK app underpins payments, savings, and investing
Kraken described KRAK as a global app designed to unify payments, savings, and investing. Through the app, users can manage a wide range of fiat and digital assets and convert them for everyday spending via the new card. The company said the card and app will be introduced in additional markets over time.
Broader expansion into multi-asset markets
The card launch follows a period of product expansion at Kraken. In recent months, the company has added equities and tokenized equity trading alongside its core digital asset services and has moved to broaden access to multiple asset classes for both retail and institutional clients. Kraken said it plans to continue expanding its offering as it rolls out KRAK globally.
Company snapshot
Founded in 2011, Kraken is a U.S.-based platform that facilitates trading in digital assets such as bitcoin and ether. According to the company, clients can access more than 450 digital assets, U.S. futures, U.S.-listed stocks and exchange-traded funds, and various fiat currencies. Kraken said it has raised $800 million across two recent funding rounds as it prepares for a planned initial public offering.