TLDR
- Kraken’s Krak app has launched a multi-asset debit card in the US offering up to 2% cashback in dollars or Bitcoin
- The card supports over 600 currencies and assets, converting holdings to US dollars at point of sale
- Users can spend from multiple balances in one transaction and set the order assets are drawn from
- The card is issued by Lead Bank on Visa’s network and powered by Stripe Issuing
- Kraken parent Payward is pushing into broader financial services, including banking, tokenization, and stock trading
Kraken’s consumer money app, Krak, has launched a debit card in the United States. The card lets customers earn up to 2% cashback paid in dollars or Bitcoin, and spend directly from more than 600 currencies and crypto assets.
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 cashback rate scales based on the total value of assets a customer holds across Krak, Kraken, and Kraken Pro. Rewards are paid as real money, not points.
At the point of sale, the card automatically converts chosen balances into US dollars. Users can set the order in which their assets are drawn down, and can even split a single purchase across multiple balances.
The Krak Card is issued by Lead Bank on Visa’s network and uses Stripe Issuing infrastructure. Both physical and virtual card versions are available to eligible US customers.
A Debit Alternative to Credit Rewards
Krak says the card is designed for consumers who want rewards without taking on debt. A survey of over 2,000 US adults commissioned by Krak found that 42% of credit card holders worry about paying off their monthly balance.
The same survey found that 60% of respondents would switch to a debit card that offered meaningful rewards without requiring them to go into debt.
Kraken already has more than 135,000 multi-asset cards active across the UK and European Economic Area since launching there in December 2025.
The card puts Krak in direct competition with fintech apps like CashApp, Venmo, SoFi, Robinhood, and Chime.
Kraken’s strategy goes beyond earning interchange fees. The company is focused on keeping more of each customer’s financial life on its platform by using the card to retain deposits and drive spending.
Payward Eyes Bigger Financial Services Play
Kraken’s parent company, Payward, is broadening its financial services push. Co-CEO Arjun Sethi spoke at the Wyoming Blockchain Symposium on Tuesday about expanding into more asset classes and financial products.
“As you start expanding into multiple asset classes, you’re just generally gonna be less susceptible to very specific markets,” Sethi said.
He described tokenization as a major part of Payward’s strategy and said the company’s ambitions are comparable to institutions like JPMorgan.
Kraken already holds a Wyoming bank charter and earlier this year became the first crypto company to secure a Federal Reserve master account, allowing its banking subsidiary to connect directly to US payment rails.
On the same day the card launched, Kraken also began offering trading in more than 7,000 US-listed stocks to customers in the European Economic Area.
Kraken was founded in 2011 and has historically served crypto-native users including institutions and professional traders. The company is now working to expand its retail user base.
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