Kraken has launched the Krak Card in the United States, giving eligible customers a debit card that offers up to 2% cashback in U.S. dollars or bitcoin. The product allows users to spend from more than 600 currencies and crypto assets, extending Kraken’s services beyond trading and further into everyday payments.
Crypto exchange Kraken has launched the Krak Card in the United States, expanding its push into everyday payments with a debit card that offers customers up to 2% cashback in U.S. dollars or bitcoin.
The card launched in the U.S. on Tuesday, August 18, according to Kraken. Customers can earn up to 2% back on eligible everyday spending, with rewards paid in dollars or bitcoin rather than traditional points. Kraken says there are no monthly or annual fees for the card.
The Krak Card allows users to spend from more than 600 currencies and crypto assets, including bitcoin and USDC. Customers can choose the order in which their balances are used, allowing them to decide which assets are spent and which remain untouched.
The launch broadens Kraken’s role from a cryptocurrency trading platform into consumer financial services. The company was founded in 2011 and has expanded its business across spot trading, derivatives, staking, equities, tokenized assets and payments.
The move also comes as Kraken develops products that connect digital assets with traditional financial infrastructure. In March, Kraken said its banking subsidiary, Kraken Financial, became the first digital asset bank to receive a Federal Reserve master account, giving it direct access to the U.S. payments system.
Kraken has also expanded into tokenized equities. Its xStocks platform provides tokenized representations of traditional assets, while the company has pursued partnerships aimed at connecting blockchain-based markets with traditional financial infrastructure.
For African markets, the development highlights the broader shift toward financial platforms that combine payments, digital assets and investment services within a single ecosystem. However, the Krak Card's U.S. launch does not mean the product is currently available across African markets. Kraken's availability varies by jurisdiction and regulatory requirements.
The U.S. launch follows Kraken's earlier rollout of its card to eligible customers in the United Kingdom and European Economic Area. That version of the card also offers up to 2% cashback and supports more than 600 crypto and cash currencies.
With the U.S. launch, Kraken is positioning its crypto infrastructure for a broader role in consumers' financial lives, extending the platform beyond cryptocurrency trading into everyday spending and payments.
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