Kraken launches Kraken Card in the UK and EEA with Mastercard support, up to 2% cashback

Kraken has rolled out Kraken Card, a debit card that lets users spend crypto or fiat held in their Kraken account directly at checkout. For high-risk operators, the notable part is not the branding exercise; it is the plumbing: crypto balances, fiat balances, and card acceptance are being pushed into one consumer payment flow.

1. The card is now available to customers in the United Kingdom and countries in the European Economic Area (EEA), with Kraken saying it plans to expand the geography later. It runs on Mastercard, so it can be used in more than 200 countries and territories wherever Mastercard is accepted.
2. Kraken Card is built to remove the usual pre-step of moving funds to a bank account before spending. Users can choose one or more cryptocurrencies or fiat currencies as the payment source, and the system converts the selected asset into the payment currency almost in real time when the purchase is made.
3. The card supports more than 600 cryptocurrencies and fiat currencies. That puts it into the “one wallet, many assets” bucket that operators and PSPs keep running into when they try to unify storage, trading, and spend flows in a single account.
4. Kraken says cardholders can earn up to 2% cashback on purchases. Rewards are credited weekly, and users can pick the payout currency: Bitcoin, euros, or British pounds sterling.
5. Kraken says it does not charge its own fees for card payments or ATM withdrawals. Customers can order both a physical and a virtual card, and manage them through the Krak mobile app, which uses the same account as the Kraken exchange.

For anyone watching crypto payments in Europe, the key detail is that Kraken is trying to make spending feel less like a separate rail and more like a native account function. That is the part PSPs, issuers, and acquiring partners tend to care about: once spending, conversion, and rewards sit inside one consumer stack, the payment flow starts looking less like “crypto” and more like another card-funded wallet product.