Kraken’s Krak debuts US debit card as Payward broadens financial services push

Kraken’s consumer payments app Krak launched a multi-asset debit card in the US, expanding the exchange’s push beyond spot crypto trading into broader financial services. The card lets users spend crypto and fiat, supports more than 600 currencies and assets, and offers up to 2% cashback in dollars or Bitcoin. It is issued on Visa’s network via Lead Bank and Stripe Issuing, with both physical and virtual versions available. The move underscores Kraken’s strategy to become a more diversified financial platform, while also reflecting a wider industry trend as major crypto exchanges add payments, equities, derivatives and tokenized products. The announcement is modestly positive for crypto adoption and for Bitcoin payment utility, but it is more of a business expansion story than a direct market-moving catalyst.