Overview
- UK and EU users begin a phased rollout of the Krak Mastercard debit card offering 1% cash back, payable in Bitcoin or local currency, in physical and virtual formats.
- Cardholders can spend from more than 400 supported crypto and fiat assets on the Mastercard network with user-defined spend order and automatic asset merging at checkout.
- Kraken markets no foreign-exchange, monthly or ATM fees, though a spread fee applies when assets are sold to complete a transaction, according to the product FAQ.
- Krak introduces named accounts with IBANs for direct wage deposits in the UK and EU, integrating everyday income with in-app spending.
- 'Vaults' route balances into independently audited DeFi lending options targeting returns of up to around 10% APY, as Kraken outlines plans for rapid geographic expansion and future card and credit products alongside recent fundraising and a confidential S-1 filing.