Krak, the money app launched by the team behind cryptocurrency exchange Kraken, has launched a multi-asset debit card in the US, allowing customers to spend from more than 600 supported currencies and assets.

Available as both a physical and virtual Visa debit card, the Krak Card lets users hold balances across fiat currencies and cryptoassets, with purchases automatically converted into US dollars at the point of sale. Customers can choose which assets are used first when making payments.

The company said the card offers up to two per cent cashback on eligible spending. Users can choose their rewards to be paid in US dollars or, if customers choose, in Bitcoin.

The US launch follows the rollout of the card across the UK and European Economic Area, where Krak said it has issued more than 135,000 cards since December 2025.

Arjun Sethi, co-chief executive of Payward, Kraken's parent company, said: "People have lost trust in how the financial system treats them, in the rates they're paid, the fees they're charged, and how rewards actually work.

"The Krak Card turns whatever people choose to hold into money they can spend anywhere, and pays the value back as cash, not points."

The Krak Card is issued by Lead Bank under a Visa licence and is powered by Stripe Issuing in the US. It can be used anywhere Visa is accepted.

In addition to the debit card, the Krak app offers peer-to-peer payments, interest-earning features for supported assets, and travel booking services with cashback incentives. The company said it plans to expand the card and its wider financial services offering into additional markets.

Alongside the launch, Krak commissioned a survey of more than 2,000 US adults examining attitudes towards banking, credit cards, and rewards programmes.

The research found that 63 per cent of respondents feel they are falling behind financially compared with where they expected to be at their age. Thirty per cent said they do not own a credit card, while 42 per cent of credit card holders worry about paying off their balance each month.

The survey also found that 60 per cent would consider switching to a debit card offering cashback without requiring them to borrow, while 64 per cent of credit card holders said they were frustrated with their current rewards programme.

More than half, or 53 per cent, said they would value the ability to hold money across hundreds of different assets and spend them instantly. Meanwhile, 57 per cent said they would rather receive cashback paid directly into their account than points or travel rewards.

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