Kraken's Debit Card Offers Rewards Without Debt

Kraken's Krak debit card has been launched in the US, allowing customers to spend crypto and cash without using credit. The card supports over 600 currencies and digital assets, offering up to 2% cashback in dollars or Bitcoin.

The card converts selected assets into dollars when customers make purchases, while allowing them to set the order in which balances are used. A single transaction can also draw from multiple balances.

Kraken's Krak is targeting consumers who want rewards without taking on debt. According to a Morning Consult survey, 60% of respondents would consider a rewards debit card that does not require borrowing.