In a major expansion of its global money app, Krak cashback is at the center of a new push to link everyday payments with richer travel and lifestyle rewards.
Krak rolls out tiered rewards of up to 2% on debit spending
Krak, the global money app from Kraken, has unveiled an upgraded debit reward program that offers up to 2% cashback for all customers, replacing its previous flat 1% system. Announced in London and Dublin, the initiative ties rewards to a 30-day average balance across Krak, Kraken and Kraken Pro.
The new tiered cashback rewards structure increases returns as customers deepen their relationship with the platform. Moreover, users can earn higher rewards without taking out credit, signing up for subscriptions or navigating complex conditions, which positions Krak as a more transparent option in the crowded fintech and crypto card market.
At entry level, Krak customers holding up to £200 or €200 qualify for 0.5% cashback on daily purchases, ensuring instant value from day one. From there, the reward rate progressively scales with higher balances. However, the maximum benefit is reserved for users holding £50,000 or €50,000 or more, who can access the full 2% cashback, making Krak one of the most rewarding debit programs available.
By directly linking reward levels to on-platform balances, Krak aims to create a simple and predictable experience that grows alongside the user. That said, the company emphasizes that all rewards are funded through standard debit spending, turning routine transactions into an ongoing stream of value.
A new Metal Mastercard debit card for UK and EEA customers
Alongside the cashback overhaul, Krak has introduced its first Metal Mastercard debit card for eligible customers in the UK and EEA. Built from precision-milled stainless steel and powered by Payward‘s multi-asset infrastructure, the Metal Card targets globally minded users who want more from everyday spending, both at home and abroad.
The launch follows strong demand for Krak’s existing Coral and Black debit cards. In less than four months, more than 60,000 of these Mastercard-powered cards have been issued. Moreover, the new Metal Card retains the same uncapped cashback potential of up to 2% on purchases, aligning it with Krak’s broader reward strategy.
Backed by Mastercard‘s worldwide payments network, the Metal Card combines global acceptance with flexible funding. Eligible customers can spend seamlessly from more than 600 cryptocurrencies and fiat currencies through near-instant crypto to fiat conversion, without FX or ATM withdrawal fees. This structure is aimed at frequent travelers and crypto users who require predictable costs when spending internationally.
Purchases are funded automatically according to each customer’s preferred spending order. The system can draw from and combine multiple eligible balances to cover a transaction, while excluding any assets the user chooses to restrict. However, this automation is designed to remove the need for manual conversions, reducing friction at the point of sale and giving Krak customers more granular control over how they store and deploy funds.
“By deepening our partnership with Kraken with the launch of the Krak Metal Card, we are enabling more people to use crypto effortlessly in their everyday lives, connecting innovative digital solutions to the trusted global payments network they rely on,” said Christian Rau, Senior Vice President, Global Digital Commercialization at Mastercard.
Eligibility for the Metal Card is tied to the new rewards framework. Customers must maintain an average balance of £50,000 or €50,000 across Krak, Kraken and Kraken Pro to qualify, aligning premium card access with higher-value users.
Krak Concierge brings in-app travel booking and boosted rewards
In parallel with the card and cashback upgrades, Krak has launched Krak Concierge, a new in-app hotel and flight booking experience available to customers worldwide. The service is designed to convert travel spending into meaningful rewards while keeping everything inside a single global money app.
Through Krak Concierge, users can access streamlined hotel and flight booking tools directly within the Krak interface. Moreover, customers can earn boosted rewards of up to 6% cashback on hotel bookings, significantly above the standard debit rate, while also tapping into exclusive member rates worldwide across more than 2.2 million hotels and resorts, from budget stays to five-star properties.
According to Krak, these rates can deliver savings of up to 60% compared with traditional booking platforms. That said, the company stresses that the aim is not just lower prices but also a tighter link between travel expenses and the Krak rewards ecosystem, allowing users to maximize returns on one of their largest spending categories.
Krak Concierge is built in partnership with Entravel, described as the world’s leading AI-powered crypto-native hotel booking platform. The integration brings in-app travel booking directly into the Krak environment, enabling users to browse, book and pay using hundreds of supported crypto and fiat balances within Krak, or by using their Krak Cards.
“Entravel is built on the principle of unlocking exclusive value through crypto integration,” said Mathias Lundoe Nielsen, Founder and CEO of Entravel. “We are excited to empower the Kraken community with access to the world’s best hotel prices and a seamless booking experience via Krak.” This partnership also positions Krak to benefit from growing demand for entravel crypto bookings from frequent travelers who hold digital assets.
Strategy and outlook for Krak’s global money app
Together, the new cashback framework, Metal Card and Krak Concierge represent a significant step in Krak’s strategy to deliver high-value, real-world utility through a single app. Moreover, the company is blending everyday payments, premium rewards and lifestyle services into one integrated platform aimed at both crypto users and traditional debit customers.
“Your money should grow automatically. We are making rewards effortless with cashback that grows with you, setting a new standard for the global money app for travel and everyday spending,” said Kamo Asatryan, Kraken’s Chief Data Officer and Global Head of Consumer. This statement underlines Krak’s ambition to turn routine card usage into a long-term value engine.
The full set of updates covers three main areas: a shift from flat 1% returns to a progressive model offering up to 2% for higher balances, a premium Metal debit offering for eligible UK and EEA customers, and an embedded concierge solution for booking hotels and flights at preferential rates. However, Krak has also signaled that this is only the beginning of a broader expansion.
Looking ahead, Krak plans to add more premium merchants, exclusive perks and curated experiences within its ecosystem. That said, the immediate focus remains on scaling its rewards-led approach, ensuring that Krak cashback, card usage and travel bookings all contribute to a unified and increasingly attractive value proposition for its global user base.
What Krak is announcing in detail
On a practical level, Krak is upgrading its flat 1% cashback model to a tiered system based on 30-day average balances across Krak, Kraken and Kraken Pro, offering opportunities for returns of up to two percent. It is simultaneously launching a premium Krak Metal debit card for eligible customers in the EEA and UK, powered by Mastercard, and introducing an in-app Concierge service with Entravel to give users member-only hotel and flight rates plus boosted rewards.
In summary, Krak is tightening the link between balances, spending and travel, using a mix of cashback enhancements, a premium Metal card and integrated concierge services to position its app as a comprehensive global money hub.
Source: https://en.cryptonomist.ch/2026/03/31/krak-cashback-metal-card/