Kraken's Krak Debit Card Lands in US with Up to 2% Cashback Rewards

Kraken's consumer-facing payments app, Krak, has launched a Visa debit card in the United States. The card allows users to spend from a pool of over 600 currencies and crypto assets, including Bitcoin and USDC. At the point of sale, holdings are converted to USD, and cashback rewards of up to 2% are offered.

The debit card charges no transaction fees, foreign exchange fees, ATM fees, or monthly/annual fees. The card launched on August 18, 2026, but availability is not nationwide, with New York, Maine, Massachusetts, and Indiana excluded.

Co-CEO Arjun Sethi stated that the US launch follows international momentum from Krak's debut in the UK and European Economic Area in November 2025. That initial rollout attracted over 125,000 cardholders before the company turned its attention stateside. Sethi framed the US launch around consumer frustration with traditional banking products, citing a 63% of US adults feeling financially disadvantaged and 60% considering switching to rewards debit cards that do not rely on borrowing.