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TL;DR
- The Kraken Card connects a customer’s crypto and cash balances to everyday spending and is live now for eligible customers in the UK and EEA.
- The card pays up to 2% cashback in Bitcoin, euros, or pounds, with no Kraken transaction or ATM fees.
- It lets cardholders spend from more than 600+ supported crypto and cash currencies, converted in near real-time at the moment of purchase, anywhere Mastercard is accepted.
- Customers can order their card in the Kraken app, with card management handled in the Krak global money app using the same Kraken login.
Right now, your savings probably sit in one account, your investments in another, and your spending money somewhere else entirely. That’s several financial institutions to juggle, a different login for each, and a set of balances you can’t see in one place.
And the moment you want to actually use that money on everyday purchases, you’re initiating a transfer, waiting for it to settle, and shuffling funds between accounts before any of it is spendable.
That’s the gap the Kraken Card closes, and it’s live today. Our new debit card connects your Kraken balances to everyday spending, whether that’s online or in shops, so the money you hold is also money you can use. Your crypto finally works like money.
The card is built to feel like a natural extension of your Kraken account. Fund it from any crypto or fiat balance you hold, and spend anywhere Mastercard is accepted.
What the Kraken Card gives you
- Up to 2% cashback. Earn market-leading cashback on every purchase made with the Kraken Card, paid out in Bitcoin, euros, or pounds weekly.
- Flexibility to spend from crypto and cash balances. Pay for goods and services from more than 600 supported crypto and cash currency balances, converted in near real-time at the moment of purchase.
- Optionality on which balances fund each purchase. Decide what to spend and what stays invested, and a single payment can be drawn from more than one balance at once.
- No Kraken fees. No transaction fees and no ATM fees from Kraken.
- Accepted worldwide. The Kraken Card runs on Mastercard’s global payments network, so it works in over 200 countries and territories across the world.
- Physical or virtual, your choice. Pick from a range of designs, or add a virtual card so you can start spending right away.
Getting started
Getting started takes just a moment. Order your new debit card directly inside the Kraken app. Card management, including your transaction history, cashback settings, and physical card ordering, lives inside our Krak global money app, which uses the same login as your Kraken account, so there’s nothing new to set up.
A single experience for your money
This card complements how you already use Kraken. Whether you’re getting paid in crypto as a remote worker, growing your balances through trading, or earning through yield opportunities, the Kraken Card lets you spend it all from one Kraken account.
As Kamo Asatryan, Global Head of Consumer at Kraken and Chief AI and Data Officer of Payward, puts it: “People shouldn’t have to worry about where their money is sitting before they spend it. Our customers already earn, save, invest, and trade with Kraken. The Kraken Card adds ’spend’ to that list, bringing it all together into one experience that just works.”
The bigger picture
That’s the bigger idea behind it. We’ve built a holistic financial offering that allows you to do more with your money, whether that’s growing it, sending to friends or family, and now spending it on things you actually use.
It also arrives as we rebuild the Kraken app around your goals, with more personalized features on the way. You can read more about that here. The card is an early, tangible piece of where the whole experience is heading.
On mobile devices, our eligible customers in the UK and EEA can request a Kraken Card today at kraken://kraken-card/onboarding. From desktop, click the link below. We’ll be launching Kraken Cards for additional markets, including the United States, soon.
In the UK, Kraken Card is issued by Monavate Limited, authorised by the Financial Conduct Authority to carry on electronic money activities and related payment services (FRN: 901097). Payward Services Limited is authorised by the Financial Conduct Authority to carry on electronic money activities and related payment services under the Electronic Money Regulations 2011 (FRN: 1010381). Mastercard is a registered trademark of Mastercard International Incorporated; the card is issued pursuant to a licence from Mastercard.
Not investment advice. Crypto trading involves risk of loss. In the EEA, Kraken Card is issued by UAB Monavate, authorised by the Bank of Lithuania (authorisation code: LB002139). Payward Ireland Limited (PIL) and Payward Europe Solutions Limited (PESL), trading as Kraken, are regulated by the Central Bank of Ireland. E-money services are provided by PIL and spot trading services are provided by PESL. Mastercard is a registered trademark of Mastercard International Incorporated; the card is issued pursuant to a licence from Mastercard.
These services are unregulated and not covered by the Financial Services Compensation Scheme. Cryptoasset values can go down as well as up and gains may be subject to Capital Gains Tax. This content is for general information only and is not investment advice or a recommendation to buy, sell, stake or hold any cryptoasset.
A variable spread will apply when spending across assets. Third-party ATM fees may apply.
Rate depends on average assets held with Kraken, Kraken Pro and Krak. T&Cs apply. See Support Center for more info.
Spending crypto may be a taxable event, as conversion to fiat can create capital gains or losses. Consult a tax advisor for your individual circumstances. Learn more.
Cashback is generally not taxable. Consult a tax advisor for your circumstances. Learn more.
