Kraken launches Krak debit card with bitcoin or USD rewards
Kraken's Krak consumer finance app has introduced a debit card for eligible US users that pays up to 2% cashback in Bitcoin or US dollars and supports payments using more than 600 cryptocurrencies and fiat currencies. The card converts selected asset balances to US dollars at checkout, lets customers allocate a single purchase across multiple balances, and scales rewards by aggregate holdings across Krak, Kraken and Kraken Pro. Lead Bank issues the card on Visa's network using Stripe Issuing technology, with physical and virtual options. The move aligns with Payward's broader expansion into banking, tokenization and equity trading.
Krak card offers up to 2% cashback in Bitcoin or USD
Context
Kraken already runs multi-asset cards in the UK and EEA. The company holds a Wyoming banking charter and a Federal Reserve master account. Payward may extend tokenization and banking services next.
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