Kraken’s payment app, Krak, has launched a multi-asset debit card in the US, allowing customers to spend crypto and fiat while earning up to 2% cashback in dollars or Bitcoin (BTC).
The card supports more than 600 currencies and assets, with holdings converted into US dollars at point of sale. A single purchase can draw from multiple balances, with users setting the order in which assets are spent, according to an announcement Tuesday.
The card is issued by Lead Bank on Visa’s network and powered by Stripe Issuing, with physical and virtual versions available to eligible US customers. The company said cashback rates depend on average assets held across Krak, Kraken and Kraken Pro.
Krak is positioning the card as an alternative to credit-based rewards programs. A Morning Consult survey of 2,001 US adults commissioned by Krak found that 42% of credit card holders worry about paying off their monthly balance, while 60% of respondents…
