Kraken Launches Krak Card: Multi-Currency Spending and Cashback Without Staking

Kraken has officially launched the Krak Card, a Mastercard crypto debit card for residents living in the EU countries and the United Kingdom. The Krak card would allow users to spend more than 400 cryptocurrencies and fiat currencies seamlessly.

Launched on November 25, 2025, the Krak Card can be used wherever Mastercard is accepted, covering more than 150 million merchants worldwide. Its standout feature is multi-asset flexibility, allowing purchases to draw from multiple assets automatically.

For example, if a user buys an item for €100 but holds only €80 in Bitcoin, the remaining €20 is pulled from another asset of the user’s choice. This eliminates the need for manual crypto conversions and simplifies everyday spending.

Kraken charges no transaction, exchange, or monthly fees, though a spread applies when assets need to be sold to complete a payment. The card is available in both virtual and physical formats, with the virtual version activated instantly through the Krak app and compatible with Apple Pay and Google Wallet. Two free physical card designs—orange and black—can also be ordered through the app.

Every Krak Card transaction earns up to 1% cashback, payable in euros, British pounds, or Bitcoin. Unlike many competing crypto cards, users do not need to stake any tokens to access this reward. Cashback tiers are based on the total assets held across Kraken and Krak accounts, with a minimum spend of €0.50 required to qualify for rewards.

Full KYC verification under EU and UK anti-money-laundering rules is required, and transactions are monitored in real time. Users can receive provisional credit within 24 hours for disputed charges. The app allows users to prioritize or exclude specific assets, enabling long-term holdings, such as Bitcoin, to remain untouched while other assets are used for daily purchases.

Ecosystem Growth and Regulatory Backing

Krak is not a bank, so deposits are not covered by FSCS insurance, though fiat funds are held in segregated accounts under Kraken’s Electronic Money Institution license. Looking ahead, Kraken plans to launch Krak Vaults, enabling users to earn yields by connecting holdings to independently audited DeFi lending protocols. While European Economic Area residents are initially excluded, UK users can earn up to 3.6% APY.

The Krak Card operates under a robust regulatory framework, including Kraken’s MiCA license from the Central Bank of Ireland, MiFID license, EMI license, and longstanding FCA registration in the UK. Co-CEO Arjun Sethi described the Central Bank of Ireland’s approval as a “powerful signal of Kraken’s commitment to responsible innovation.”

In Europe’s competitive crypto card market, Kraken stands out for its zero fees, wide asset support, multi-asset spending, and no staking requirement. For EU and UK users, the Krak Card simplifies using crypto for daily expenses, from groceries to travel, while integrating fiat deposits via IBAN. Kraken reminds users that crypto payments may constitute taxable events depending on local laws and recommends consulting a tax advisor.