Kraken's Debit Card Enters Mainstream Consumer Finance

Kraken, a leading cryptocurrency exchange, has launched the Krak Debit Card in the US. The card allows customers to spend both traditional currencies and cryptocurrencies directly, aiming to push crypto deeper into everyday spending.

The Krak Card offers up to 2% cashback in either cash or Bitcoin. Rewards are delivered as money rather than conventional points, and the rate increases according to the value of assets a customer holds on the platform.

Kraken's parent company, Payward, designed the card to make crypto balances function like ordinary spending money. Customers can spend from over 600 currencies and crypto assets, with Krak automatically converting selected balances into dollars when a transaction is made.