Kraken’s Krak debuts US debit card as Payward broadens financial services push
Kraken’s Krak app launched a US multi-asset debit card that lets customers spend crypto and fiat, with up to 2% cashback paid in dollars or Bitcoin. The card supports more than 600 currencies and assets, converting holdings to US dollars at checkout, and can pull from multiple balances in a user-set order. It is issued by Lead Bank on Visa and uses Stripe Issuing, with physical and virtual cards available to eligible US users. Cashback depends on average assets held across Krak, Kraken, and Kraken Pro. Krak is marketing the card as a rewards debit alternative to credit cards. Kraken said it has already issued more than 135,000 similar cards in the UK and EEA. Meanwhile, Kraken’s parent company is expanding beyond crypto trading into banking, tokenization, stocks, and other financial products.
