The Kraken exchange officially launched the Krak Card on November 25, 2025, a Mastercard debit card allowing you to spend more than 400 cryptocurrencies and fiat currencies. Available to residents of the European Union and the United Kingdom, this card is part of Kraken's strategy to position itself as an alternative to traditional banks.
In brief
- Kraken launches the Krak Card, a fee-free crypto Mastercard.
- Over 400 spendable assets with up to 1% cashback.
- Multi-asset payment, rapid activation and a solid regulatory framework.
A multi-currency crypto card with no fees
There Krak Card by Kraken represents a major advancement in the Kraken ecosystem. Backed by the Mastercard network, it allows users to pay wherever Mastercard is accepted, i.e. more than 150 million points of sale in the world.
The main argument of this card lies in its multi-asset flexibility. Users can spend from a wallet that includes over 400 cryptocurrencies and traditional currencies. Bitcoin (BTC), Ethereum (ETH), Solana (SOL), stablecoins or euros: everything can be used as a means of payment.
Concretely, if you make a purchase of €100 but your Bitcoin balance only covers €80, the card will automatically draw the remaining €20 from another asset of your choice. This functionality of multi-source payment eliminates the usual friction of converting cryptos first.
Up to 1% cashback in Bitcoin or euros
Each transaction carried out with the Krak Card generates a cashback of up to 1%. The user chooses to receive this reward in euros, pounds sterling or directly in Bitcoin. ATM withdrawals are excluded from this program, and a minimum amount of €0.50 or £ per transaction is required to benefit from cashback.
The cashback rate varies depending on the volume of assets held on the Kraken and Krak platforms. This approach incentivizes users to consolidate their holdings on the Kraken ecosystem to maximize their rewards.
On the cost side, Kraken displays an aggressive policy: no transaction, exchange or monthly fees. However, a spread applies when assets must be sold to complete a transaction, as detailed in official Kraken documentation.
Quick activation and dual format
The Krak Card is available in virtual and physical format. The virtual version can be set up in minutes directly from the Krak app, then added to Apple Pay or Google Wallet for immediate contactless payments.
For fans of plastic, two physical cards are offered free of charge: an orange version and a black version. The order is made from the application, without issue costs.
Access to the card requires having completed the Kraken or Krak KYC (Know Your Customer) procedure. This regulatory requirement ensures compliance with EU and UK anti-money laundering legislation.
Enhanced security and real-time management
Each transaction is monitored in real time by Kraken systems. In the event of a suspicious transaction reported by the user, a provisional credit is granted within 24 hours during the investigation.
The app also allows you to prioritize the assets used for payments. Users can exclude certain assets that they wish to keep (for example, Bitcoin for long-term accumulation) and favor others for daily spending.
Important point highlighted by Kraken: Krak is not a bank and therefore does not offer FSCS (UK) type deposit guarantee or equivalent insurance. Fiat funds are, however, segregated into dedicated accounts with regulated banks, in accordance with the requirements of the EMI licenses held by Kraken.
DeFi Yields with Krak Vaults
In addition to the map, Kraken announces the upcoming launch of Krak Vaultsa feature to generate returns on assets held. These Vaults connect to independently audited DeFi lending protocols, with advertised yields that can exceed 10% APY.
Attention : this performance feature is not available to residents of the European Economic Areain accordance with local regulatory restrictions. UK users, on the other hand, can access yields of up to 3.6% APY on certain eligible balances.
A solid regulatory framework
The launch of the Krak Card is based on a reinforced regulatory base. In June 2025, Kraken obtained its MiCA license (Markets in Crypto-Assets) issued by the Central Bank of Ireland. This authorization allows Kraken to operate in the 30 countries of the European Economic Area under a unified regulatory framework.
Kraken also holds an EMI (Electronic Money Institution) license obtained in March 2025 and a MiFID (Markets in Financial Instruments Directive) license since February 2025. In the United Kingdom, the platform has been registered with the FCA (Financial Conduct Authority) for over a decade.
Obtaining a license from the Central Bank of Ireland is not just about compliance. This is a strong signal of Kraken’s commitment to growing the crypto ecosystem responsibly.
Arjun Sethi, co-CEO of Kraken, during the announcement of the MiCA license
Krak Card versus the competition
The crypto card market has become particularly competitive in 2025. How is the Krak Card positioned compared to existing alternatives?
The main advantage of the Krak Card lies in its total absence of transaction and exchange feescombined with support for over 400 assets. No staking is required to access basic cashback, cashback levels are determined by the value of assets held on Kraken.
The multi-asset payment functionality, allowing multiple sources of funds to be combined in a single transaction, is also a notable differentiator compared to most competitors who require payment from a single asset at a time.
What this changes for the European user
For residents of the European Union and the United Kingdom, the Krak Card offers a concrete solution for using their cryptocurrencies on a daily basis without complex prior conversion. The possibility of receiving your salary directly into your Krak account via IBAN reinforces this proposition of “ all-in-one account “.
One of the advantages of the Kraken Card is that you can use it like a classic card, no more endless declarations, you can directly add fiat currency (for example in euros) and pay for any expense while generating cashback.
Finally, each crypto payment potentially constitutes a tax event (capital gain or loss) according to the legislation of your country of residence. It is recommended to consult a tax advisor to understand the implications.
Frequently asked questions
Residents of the European Union and the United Kingdom who have completed identity verification (KYC) on Kraken or Krak.
The virtual and physical card are free. No monthly, transaction or exchange fees are charged by Kraken.
Over 400 assets are supported, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), stablecoins and many fiat currencies.
No. Krak is not a bank and does not benefit from deposit guarantee mechanisms. Fiat funds are, however, segregated into regulated bank accounts.
No, ATM withdrawals are excluded from the cashback program.
Maximize your Tremplin.io experience with our 'Read to Earn' program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.
