Krak is launching the Krak Metal Mastercard debit card, a precision-milled stainless-steel debit card built into the Krak global money app and available now to eligible customers across the UK and EEA.
The card uses Mastercard’s global payments network and Kraken’s multi-asset infrastructure to let customers spend more than 600 supported cryptocurrencies and fiat currencies with no FX or ATM withdrawal fees, while near-instant crypto-to-fiat conversion and a selectable spending order remove manual conversions at the point of sale.
Every purchase with the Krak Metal Card earns 2% cashback, applied automatically, and the app provides real-time transaction alerts, instant card security controls and balance visibility; eligibility requires an average balance of £50,000 or €50,000 across Krak, Kraken and Kraken Pro. “Your money should grow automatically," Kamo Asatryan, Kraken Chief Data Officer and Global Head of Consumer, said.
"We’re making rewards effortless with cashback that grows with you, setting a new standard for the global money app for travel and everyday spending."
The company said in an announcement the card is available today to eligible customers across the UK and EEA and that it plans to expand availability and enhance the Metal offering over the coming months.
“By deepening our partnership with Kraken with the launch of the Krak Metal Card, we’re enabling more people to use crypto effortlessly in their everyday lives, connecting innovative digital solutions to the trusted global payments network they already rely on,” Christian Rau, Mastercard Senior Vice President, Global Digital Commercialisation, said.
The card is issued by Monavate under license from Mastercard and the Krak e-money wallet is provided by Payward Ireland Limited, trading as Kraken, regulated by the Central Bank of Ireland; in the UK Monavate Limited issues the card and Payward Services Limited provides e-money services, both authorised by the Financial Conduct Authority.
The recap
- Krak launches Metal Mastercard debit card in UK and EEA.
- Card earns 2% cashback on every purchase automatically.
- Eligibility requires average £50,000 or €50,000 balance across platforms.
