Kraken Rolls Out Cashback Card and Salary Deposit for Krak App

Kraken launches a cashback debit card and salary deposit, expanding wealth tools for its Krak app to rival traditional banks.

Kraken has introduced major upgrades to its Krak app. The new features include a cashback debit card, salary deposit, and increased wealth tools. Together, they hope to make Krak an attractive alternative to conventional (and neo) banks. Kraken also offers these tools as a way for people who are looking for everyday payments, and yet are still active in crypto.

Krak Card Enters Europe with Multi-Asset Payments

Kraken has announced the Krak Card, which is a Mastercard-powered debit card for people in the UK and Europe. It offers up to 1 percent cashback in fiat currency or Bitcoin. In addition, the card does not have any foreign exchange or monthly fees. The product supports physical format as well as virtual format. It allows for the ability to spend instantly between multiple balances in the Krak app.

Moreover, the card takes in spending from more than 400 crypto and fiat assets. Krak does real-time conversions at checkout. For example, a purchase of, say, 100 pounds can be paid from cash and Bitcoin at the same time. Therefore, users have more control over the utilization of assets for day-to-day spending. Kraken executives say the product represents a step toward free-flowing value between digital and traditional money.

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The company emphasizes that the card represents the beginning of a larger rollout. More regions will be able to gain access as partnerships mature. The dual-color design is intended to facilitate dual users of digital and traditional cards. This is part of Kraken’s strategy to expand its reach in the competitive fintech world of Europe.

European Wealth Tools Advance Kraken’s Market Strategy

Krak’s wealth suite has been continually adding more Vaults, yield tools, and wider payment functions. The app already supports transfer to over 160 countries. It offers yield opportunities of up to 3.6% on eligible assets. The new Vaults tool enhances this offering by incorporating audited DeFi lending protocols. These may provide greater than 10% APY returns, though, with the risk associated with smart contracts and liquidity.

In addition, salary deposit features will soon be available for UK and EU users. This addition is an effort to simplify the processes of earning, saving and spending in a single app. Kraken expects the feature to develop into other markets after the initial phase. It makes the tool a step closer to replace conventional accounts to users who want crypto-first wealth management.

The Krak Card is also key to Kraken’s expansion across Europe. Kraken’s regulatory momentum gained momentum after the full activation of its MiCAR license. Granted by the Central Bank of Ireland, the license allows service to the European Economic Area. This underlines Kraken’s commitment to building a compliant, long-term presence in Europe.

Kraken’s UK history dates to 2013. It is one of the longest-standing FCA-registered cryptocurrency platforms. This builds trust as the firm is pushing Krak towards mainstream adoption. The Krak app has exceeded 450,000 downloads in 130 countries since it was debuted in June 2025.

Looking towards the future, Kraken assumes that Krak will attract users who are looking for a primary financial account with flexible spending and competitive rewards. The combination of cashback, asset versatility, DeFi yield options, and the ability to deposit your salary makes Krak a potential disruptor. As Kraken reinforces its fintech identity, it gets closer to challenging traditional banking models and progressing further into the global payments market.