Key Takeaways
Kraken launched its Krak cash-back debit card in the United States on August 18, offering up to 2 percent back in dollars or bitcoin.
The card lets users spend from more than 600 currencies with no monthly or annual fees, run by Kraken parent company Payward.
It is Krak's first US launch after signing more than 125,000 cardholders across the UK and Europe since November 2025.
Kraken launched a cash-back debit card in the United States on August 18, pushing the crypto exchange deeper into everyday spending. The card, called Krak, offers up to 2 percent back in dollars or bitcoin and lets users spend from more than 600 currencies.
The card is run by Payward, Kraken's parent company, and the cash-back rate rises with the value of assets a customer holds. Kraken said there are no monthly or annual fees. Users can hold and spend from assets including dollars, bitcoin and USDC, with the conversion handled at the point of sale.
It is Krak's first US rollout. The company said it has signed up more than 125,000 cardholders across the UK and Europe since launching there in November 2025. The US move puts it up against fintech super apps that have spent years turning payments into daily-use products.
The launch lands the same week federal crypto policy took two steps forward. Kraken is betting that spending, not trading, is how crypto reaches the next wave of users. None of this is new. What's new is a crypto exchange competing head-on for the everyday wallet.
The timing tracks the rules taking shape around it, from Treasury's first major stablecoin rule under the GENIUS Act to the SEC's proposed Regulation Crypto Assets. Worth watching whether cash back is enough to move people from holding crypto to spending it.
People Also Ask
What is the Kraken Krak card?
A cash-back debit card from Kraken's parent company Payward that lets users spend from more than 600 fiat and digital currencies and earn up to 2 percent back in dollars or bitcoin.
How much cash back does the Kraken card offer?
Up to 2 percent in dollars or bitcoin, with the rate rising based on the value of assets a customer holds, and no monthly or annual fees.
Where is the Kraken Krak card available?
It launched in the United States on August 18, 2026, its first US rollout after building more than 125,000 cardholders across the UK and Europe.
Why is Kraken launching a debit card?
To push crypto into everyday spending and compete with fintech super apps, betting that spending, not just trading, brings in the next wave of users.