Kraken has introduced the Krak Card, a U.S. multi-asset debit card that lets eligible customers spend from more than 600 fiat and crypto balances and earn up to 2% back in dollars or Bitcoin. Purchases are converted into U.S. dollars at the point of sale, can draw from multiple balances in a user-set order, and the physical and virtual cards are issued by Lead Bank on Visa's network using Stripe Issuing. Kraken said cashback rates depend on average assets held across Krak, Kraken and Kraken Pro, and that more than 135,000 comparable cards have been issued in the UK and European Economic Area since the product launched there in December 2025. Krak is pitching the product as a debt-free alternative to credit card rewards, while parent company Payward ties payments to a broader push into banking services, tokenization and additional asset classes, including newly launched access to more than 7,000 U.S.-listed stocks for customers in the EEA.