LONDON — Cryptocurrency exchange Kraken has launched a debit card that allows customers in the United Kingdom and European Economic Area to spend both cryptocurrency and traditional currency balances anywhere Mastercard is accepted, according to a statement from the company.
Kraken said the new Kraken Card connects customers’ crypto and cash balances to everyday purchases and supports spending from more than 600 cryptocurrencies and fiat currencies. The company said balances are converted in near real time at the point of sale.
The card is currently available to eligible customers in the U.K. and countries within the European Economic Area.
The Key Features
According to Kraken, key features include:
- Up to 2% cashback on purchases, paid weekly in Bitcoin, euros or British pounds.
- The ability to spend from more than 600 supported crypto and cash balances.
- The option to fund a single purchase from multiple account balances.
- No transaction fees or ATM fees charged by Kraken.
- Acceptance anywhere Mastercard is accepted, including in more than 200 countries and territories.
- Physical and virtual card options.
Kraken said customers can order the card through its mobile app, while card management, transaction history and cashback settings are handled through its Krak global money app using the same account credentials.
Designed for Simplification
Kamo Asatryan, Kraken’s global head of consumer and chief AI and data officer at Payward, said in the statement that the card is designed to simplify how customers use digital assets.
“People shouldn’t have to worry about where their money is sitting before they spend it,” Asatryan said. “Our customers already earn, save, invest and trade with Kraken. The Kraken Card adds ‘spend’ to that list, bringing it all together into one experience.”
Kraken said the card is part of a broader effort to integrate investing, payments and money transfers into a single platform as it continues expanding financial services for cryptocurrency users.
