Kraken Expands Crypto Debit Card to US Market
Kraken has launched its multi-asset debit card in the US, allowing users to spend hundreds of crypto and cash currencies.
Kraken has expanded its crypto debit card to the US market, enabling users to spend a wide range of currencies and assets.
The card, launched through the crypto exchange's Krak app, allows users to store money across more than 600 currencies and assets, and spend any of them at checkout. This includes the option to split a single purchase across multiple balances, each converted to US dollars in real time.
The card also offers up to two per cent cashback, paid out in Bitcoin or USD. It is powered by Stripe and Visa, and issued by Lead Bank.
A recent survey commissioned by Krak found that nearly two thirds of Americans feel financially behind, and 60% would switch to a debit card that offers meaningful rewards without requiring them to take on debt.
The US launch follows the card's arrival in the UK and Europe in December 2025, where over 135,000 cards have been issued.
Arjun Sethi, co-CEO of Kraken parent Payward, stated that the traditional deal of offering rewards in exchange for taking on debt is over. He believes that the Krak Card turns whatever people choose to hold into money they can spend anywhere, and pays the value back as cash, not points.
Key Features of the Krak Card
| Feature | Description |
|---|---|
| Currencies and Assets | Over 600 currencies and assets |
| Cashback | Up to 2% cashback, paid out in Bitcoin or USD |
| Conversion | Real-time conversion to US dollars |
| Split Payments | Option to split a single purchase across multiple balances |
US Market Expansion
Kraken's expansion into the US market is a significant development in the crypto debit card space. The company's survey findings suggest that there is a demand for debit cards that offer meaningful rewards without requiring users to take on debt.
The Krak Card's features and benefits are designed to meet this demand, providing users with a convenient and flexible way to spend their crypto and cash currencies.
The success of the card in the UK and Europe has been impressive, with over 135,000 cards issued since its launch in December 2025. The US market is expected to be a key growth area for the card, and Kraken is well-positioned to capitalize on this opportunity.
Conclusion
Kraken's expansion into the US market is a significant development in the crypto debit card space. The company's survey findings suggest that there is a demand for debit cards that offer meaningful rewards without requiring users to take on debt. The Krak Card's features and benefits are designed to meet this demand, providing users with a convenient and flexible way to spend their crypto and cash currencies.
Source: Finextra