TL;DR
- THE Kraken Card connect that of a customer crypto and cash balances has daily expenses and is now available to eligible customers of UK and EEA.
- The card pays up to 2% cash back In Bitcoineuros or pounds, with no Kraken or ATM transaction fees.
- It allows cardholders to spend more than Over 600 crypto and currency currencies supportedconverted in near real time at the time of purchase, anywhere MasterCard is accepted.
- Customers can order their card in the Kraken appwith card management managed in the Krak global money app using the same Kraken connection.
Right now, your savings are probably in one account, your investments in another, and your spending money somewhere else. That’s multiple financial institutions to juggle, a different ID for each, and a set of balances you can’t see in one place.
And the moment you actually want to use that money for everyday purchases, you initiate a transfer, wait for it to settle, and mix the funds between accounts before you can spend them.
That’s the gap the Kraken Card fills, and it’s live today. Our new debit card connects your Kraken balances to everyday spending, whether online or in stores, so the money you hold is also money you can use. Your crypto finally works like money.
The card is designed 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 brings you
- Up to 2% cash back. Earn market-leading cashback on every purchase made with the Kraken card, paid weekly in Bitcoin, euros or pounds.
- Flexibility to spend from crypto and currency balances. Pay for goods and services from over 600 supported cryptocurrency and currency balances, converted in near real-time at the time of purchase.
- Option on which the sales finance each purchase. Decide what to spend and what to stay invested, and a single payment can be taken from multiple balances at once.
- No Kraken fees. No transaction fees or ATM fees from Kraken.
- Accepted worldwide. The Kraken card operates on Mastercard’s global payments network, so it works in over 200 countries and territories around the world.
- Physical or virtual, your choice. Choose from a range of designs or add a virtual card so you can start spending straight away.
To start
Getting started takes just a moment. Order your new debit card directly in the Kraken app. Card management, including your transaction history, cashback settings and physical card orders, is in our Krak global money app, which uses the same login as your Kraken account, so there’s nothing new to set up.
One experience for your money
This card complements the way you already use Kraken. Whether you get paid in crypto as a remote worker, grow your balances through trading, or earn through yield opportunities, the Kraken Card lets you spend it all from a single Kraken account.
As Kamo Asatryan, Global Head of Consumer Affairs at Kraken and Director of AI and Data at Payward, says: “People shouldn’t have to worry about where their money is before they spend it. Our customers already earn, save, invest and trade with Kraken. The Kraken Card adds ‘spending’ to that list, bringing it all together into one experience that just works.”
The big picture
That’s the biggest idea behind it all. We’ve created a holistic financial offering that lets you do more with your money, from growing it to sending it to friends and family, and now spending it on things you actually use.
It also comes as we rebuild the Kraken app around your goals, with more personalized features on the way. You can read more about it here. The map is an early, tangible part of where the whole experience is going.
On mobile devices, our eligible customers in the UK and EEA can apply for a Kraken Card today at kraken://kraken-card/onboarding. From the desktop, click the link below. We will soon launch Kraken cards in other markets, including the United States.
In the United Kingdom, The Kraken Card is issued by Monavate Limited, authorized by the Financial Conduct Authority to carry out electronic money activities and related payment services (FRN: 901097). Payward Services Limited is authorized by the Financial Conduct Authority to carry out electronic money activities and associated 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 license from Mastercard.
No investment advice. Crypto trading involves risk of loss. In the EEAThe Kraken card is issued by UAB Monavate, authorized by the Bank of Lithuania (authorization code: LB002139). Payward Ireland Limited (PIL) and Payward Europe Solutions Limited (PESL), trading as Kraken, are regulated by the Central Bank of Ireland. Electronic 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 license from Mastercard.
These services are not regulated and are not covered by the financial services compensation system. The value of cryptoassets may increase or decrease and gains may be subject to capital gains tax. This content is intended for general information only and does not constitute investment advice or a recommendation to buy, sell, stake or hold any crypto-asset.
A variable spread will apply when spending between assets. Third-party ATM fees may apply.
The rate depends on the average of assets held with Kraken, Kraken Pro and Krak. Terms and conditions apply. Visit the Support Center for more information.
Spending cryptocurrencies may be a taxable event, as converting to fiat currency may create capital gains or losses. Consult a tax advisor tailored to your specific situation. Learn more.
Cashback is generally not taxable. Consult a tax advisor suited to your situation. Learn more.
