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Kraken Launches Mastercard-Powered Krak Card and Money App in UK and EU

Backed by MiCA authorization in Ireland, the phased release links salary deposits with DeFi yield features in one consumer platform.

Overview

  • The Krak Card offers 1% cashback on purchases, paid in local currency or Bitcoin.
  • Users can spend from more than 400 crypto and fiat balances with conversion at checkout, set a spending order, and exclude specific assets.
  • The card runs on Mastercard’s network and is available in physical and virtual forms with no FX, monthly, or ATM fees.
  • UK and EU customers receive named accounts and IBANs to enable direct salary deposits into the app.
  • A Vaults feature routes funds to independently audited DeFi lending protocols targeting up to about 10% APY, with selectable risk tiers and non‑guaranteed returns.