Kraken Debuts Multi-Asset Debit Card with Cashback Rewards

Kraken's payment app, Krak, has launched a multi-asset debit card in the US, allowing customers to spend crypto and fiat while earning up to 2% cashback in dollars or Bitcoin (BTC).

The card supports more than 600 currencies and assets, with holdings converted into US dollars at point of sale. A single purchase can draw from multiple balances, with users setting the order in which assets are spent.

The card is issued by Lead Bank on Visa's network and powered by Stripe Issuing, with physical and virtual versions available to eligible US customers. The company said cashback rates depend on average assets held across Krak, Kraken, and Kraken Pro.