TLDR Cryptocurrency exchange Kraken has introduced a debit card through its Krak app in the United States with rewards of up to 2% in Bitcoin or USD The payment card enables transactions usin
The Krak consumer finance application from Kraken has introduced a debit card product for United States users. Cardholders can receive up to 2% cashback rewards in either US dollars or Bitcoin, while making purchases using any of more than 600 supported cryptocurrencies and fiat currencies.
Kraken is launching Krak Cards in the US, powered by Stripe Issuing. Spend crypto anywhere Visa is accepted. https://t.co/X4yAo0PdrP
— Stripe (@stripe) August 18, 2026
The percentage of cashback rewards increases according to the aggregate value of digital assets held by customers throughout the Krak, Kraken, and Kraken Pro platforms. Unlike typical credit card programs, rewards come as actual currency rather than loyalty points.
During checkout transactions, the card seamlessly converts selected asset balances to US dollars. Customers have control over which assets get depleted first, with the flexibility to allocate a single transaction across several different balance types.
Lead Bank serves as the issuing institution for the Krak Card, operating on Visa’s global payment infrastructure and leveraging Stripe Issuing technology. US-eligible customers can access both physical card versions and virtual cards.
According to Krak, the card targets consumers seeking reward programs without accumulating debt. Research commissioned by Krak surveying more than 2,000 American adults revealed that 42% of credit card users experience anxiety about settling their monthly statements.
The research also uncovered that 60% of participants would transition to a debit card providing substantial rewards without the necessity of borrowing money.
Kraken currently maintains over 135,000 active multi-asset cards throughout the United Kingdom and European Economic Area following its December 2025 regional launch.
The product positions Krak as a direct competitor to financial technology platforms including CashApp, Venmo, SoFi, Robinhood, and Chime.
Kraken’s approach extends beyond simply collecting interchange revenue. The organization prioritizes consolidating greater portions of customers’ financial activities on its platform by leveraging the card to maintain deposits and stimulate transaction volume.
Payward, the parent corporation of Kraken, continues broadening its financial services expansion. Co-CEO Arjun Sethi addressed attendees at Tuesday’s Wyoming Blockchain Symposium regarding the company’s move into additional asset categories and financial offerings.
“As you start expanding into multiple asset classes, you’re just generally gonna be less susceptible to very specific markets,” Sethi said.
He identified tokenization as a central component of Payward’s strategic direction and compared the organization’s goals to established financial institutions such as JPMorgan.
Kraken possesses a Wyoming banking charter and earlier this year achieved a milestone as the first cryptocurrency firm to obtain a Federal Reserve master account, enabling its banking division to interface directly with United States payment infrastructure.
Coinciding with the card’s debut, Kraken introduced trading capabilities for over 7,000 US-listed equities to customers throughout the European Economic Area.
Established in 2011, Kraken has traditionally catered to cryptocurrency-focused clientele, including institutional investors and advanced traders. The platform is currently pursuing significant growth in its retail customer segment.
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