Crypto platform Kraken has rolled out the Krak card, a multi-asset debit card for fiat and crypto payments.
The initial distribution will take place in the UK and Europe, with additional markets to follow in the coming weeks.
Powered by Mastercard’s global payments network, the Krak Card extends multi-asset spending capabilities to more than 400 crypto and fiat assets supported in the Krak app. Krak users can preset which assets are used first and exclude specific holdings from payments
The card offers one percent cash back rewards on all purchases, paid in either the local fiat currency or bitcoin,
“To us, everything is money. You should be able to use whatever assets you hold to pay for everyday goods and services in the digital era we live in,” says Mark Greenberg, global head of consumer at Kraken. “From groceries to getaways, the Krak Card makes value move freely, no matter who you are or how you choose to store your money.”
The Kraken app, which currently counts 450,000 users, is also being enhanced to cater for salary deposits and to offer yield-bearing opportunities for idle assets.