Kraken Rolls Out Krak Card, Letting UK and EU Customers Spend Crypto at 150 Million Mastercard Merchants #

Kraken has begun rolling out the Krak Card, a Mastercard-powered debit card that lets customers in the United Kingdom and European Union spend from a pool of more than 400 crypto and fiat currencies.

The company announced the card on November 25, saying it would be issued first to UK and EEA residents before expanding to additional markets within weeks. The Krak Card is available in both physical and digital formats and can be used at any of the more than 150 million merchants that accept Mastercard worldwide.

The card offers 1% cashback on every purchase, which users can elect to receive in fiat currency or Bitcoin. It carries no foreign exchange fees and no monthly charges. Within the Krak app, users can set a priority order for which assets are drawn down first at checkout and can exclude holdings they do not want used for everyday spending.

“You should be able to use whatever assets you hold to pay for everyday goods and services in the digital era we live in,” said Mark Greenberg, Kraken’s global head of consumer, in the company’s press release.

The rollout follows the full activation of Kraken’s Markets in Crypto-Assets Regulation (MiCA) licence, granted by the Central Bank of Ireland, which allows it to passport services across the European Economic Area. In the UK, Kraken obtained an Electronic Money Institution licence from the Financial Conduct Authority in March 2025 and has been registered with the regulator since 2013. The card’s e-money infrastructure in both jurisdictions is handled by Monavate, which holds separate authorisations in Lithuania for EEA users and from the FCA for UK customers.

The Krak Card follows Kraken Pay, a peer-to-peer payments service the exchange launched in January 2025 that allows users to send more than 300 crypto assets across borders and via URL-based paylinks. The company said more than 200,000 Kraken users have already activated payment-related features since that service went live.

The debit card puts Kraken in more direct competition with crypto-native neobanks and established rivals that have long offered spending cards linked to digital asset balances. Kraken is also separately pursuing a US initial public offering.

Source: PYMNTS