Kraken has launched a debit card that allows customers in the UK and European Economic Area (EEA) to spend cryptocurrency and cash balances directly from their Kraken accounts.

The Kraken Card, which runs on the Mastercard network, enables users to make purchases by converting crypto or fiat balances into local currency at the point of sale.

Customers can spend from more than 600 supported cryptocurrencies and fiat currencies, with the option to fund a single transaction using multiple account balances. Kraken said the card does not charge transaction or ATM fees, although third-party cash machine charges may still apply.

The company is also offering up to two per cent cashback on purchases, paid weekly in Bitcoin, euros or pounds, depending on the customer's preference.

Users can order either a physical or virtual card through the Kraken app, while card management, including transaction history and cashback settings, is handled through the company's Krak money app using the same login credentials.

The launch forms part of Kraken's broader strategy to expand beyond cryptocurrency trading into everyday financial services. The company said additional features are planned as it continues to develop its consumer platform.

Kamo Asatryan, global head of consumer at Kraken and chief AI and data officer at Payward, said the new product is designed to bring together different financial services on a single platform.

"People shouldn't have to worry about where their money is sitting before they spend it," he said. "Our customers already earn, save, invest and trade with Kraken. The Kraken Card adds 'spend' to that list, bringing it all together into one experience that just works."

The Kraken Card is now available to eligible customers across the UK and EEA, with launches in additional markets, including the US, planned for a later date.

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