This post was originally published on The FinTech Times
Crypto platform Kraken has unveiled a new suite of features, including a debit card, designed to challenge traditional banks and neobanks. The company began a phased rollout of the “Krak” card, which offers 1% cash back on all purchases, paid in either local fiat currency or Bitcoin.
The launch marks a significant step in Kraken’s strategy to provide a comprehensive financial ecosystem that bridges the gap between crypto and traditional finance. By offering multi-asset spending capabilities, salary deposits, and wealth-building tools, Kraken aims to give customers the ability to “leave their bank behind and go all-in on crypto.”
Spending crypto like cash
Mark Greenberg, global head of consumer at Kraken
The new Krak debit card, powered by Mastercard’s global payments network, will first be available to users in the UK and EU, with additional markets to follow.
A key feature of the card is its ability to spend from multiple balances instantly. For example, a £100 purchase could be covered by £80 from a cash balance and the remaining £20 from a crypto asset like Bitcoin, Ethereum, or Solana, with real-time currency conversion at the point of sale. Users can preset which assets are
— Read the rest of this post, which was originally published on The FinTech Times.
