Overview
- Krak launched the Krak Card on August 18, 2026, as a Visa debit that lets customers spend from more than 600 fiat and crypto balances with instant virtual-card access and a physical card arriving later.
- The card pays up to 2% back in cash or bitcoin with the reward rate tied to how much a user holds across Krak and Kraken platforms and rewards credited after transactions settle.
- Lead Bank issues the Krak Card on the Visa network and the program uses Stripe Issuing infrastructure, while Krak charges no monthly, foreign exchange, ATM, or transaction fees.
- The card is not available in New York, Maine, Massachusetts, or Indiana and is being positioned to capture deposits and on-platform activity rather than rely on interchange revenue to fund rewards.
- Kraken’s Wyoming bank charter and its reported Federal Reserve master account give its banking arm direct access to U.S. payment rails, and the U.S. rollout follows roughly 125,000 cardholders in the U.K. and EEA after the November 2025 launch.