Kraken has launched a Mastercard debit card across the United Kingdom and European Economic Area, allowing eligible customers to spend cryptocurrencies and fiat currencies at merchants worldwide through the Krak app.
Kraken has launched a Mastercard debit card across the United Kingdom and European Economic Area, allowing eligible customers to spend cryptocurrencies and fiat currencies at merchants worldwide through the Krak app.
Kraken and Mastercard bring a new debit card to UK and European users
Kraken announced on March 31, 2026 that the Krak Metal Mastercard debit card was available to eligible customers across the UK and EEA through the Krak app. The metal card joins Kraken’s existing plastic and virtual debit card options. For related coverage, see Internet Court launches for AI agent disputes with crypto backing.
What to Know
- Kraken’s Krak Metal Mastercard debit card is now live for eligible personal account holders in the UK and EEA, with virtual and physical card formats.
- The card works at merchants and ATMs across 190+ countries that accept Mastercard, covering both crypto and fiat spending.
The card lets customers spend more than 600 supported cryptocurrencies and fiat currencies with no foreign exchange or ATM withdrawal fees. Kraken says the card is available in both virtual and physical formats for verified personal account holders.
The Krak Metal card earns 2% cashback for eligible customers. Kamo Asatryan, a Kraken executive, said the company is “making rewards effortless with cashback that grows with you, setting a new standard for the global money app for travel and everyday spending.”
According to Mastercard’s press release, Kraken customers in the UK and Europe can spend their crypto with more than 150 million merchants worldwide that accept Mastercard. The company’s Kraken Pay feature supports payments in more than 300 crypto and fiat currencies and recorded more than 200,000 Kraktag activations in its first 90 days.
What the card launch signals for crypto spending access
The debit card represents Kraken’s push beyond trading into everyday payments. By partnering with Mastercard’s network, the exchange gives customers a way to convert crypto holdings into real-world purchases without leaving the Kraken ecosystem. This follows Kraken’s broader app upgrades aimed at expanding beyond its core exchange offering.
Kraken CEO David Ripley framed the partnership as a response to customer demand, saying: “Our customers want to be able to easily pay for real-world goods and services with their cryptocurrencies or stablecoins. Our partnership with Mastercard is a major step in realizing this vision.”
“Our customers want to be able to easily pay for real-world goods and services with their cryptocurrencies or stablecoins. Our partnership with Mastercard is a major step in realizing this vision.”
— David Ripley, Kraken CEO, via Finextra
The move positions Kraken alongside other exchanges that have launched card products, though the 600+ supported currencies and fee-free FX and ATM withdrawals distinguish the offering. As Kraken has overhauled its fee structures for traders, the card extends its competitive pricing approach to consumer spending.
Why the UK and Europe rollout matters for Kraken’s regional push
The launch targets the UK and EEA specifically rather than rolling out globally, reflecting a deliberate regional strategy. The card is issued in the EU by UAB Monavate under Bank of Lithuania authorization, with the related e-money wallet provided by Payward Ireland Limited and regulated by the Central Bank of Ireland.
In the UK, the card is issued by Monavate Limited, and Payward Services Limited is authorized by the Financial Conduct Authority under the Electronic Money Regulations 2011. This regulatory structure gives the card a compliance foundation that competitors have not always detailed publicly.
The UK and European crypto payments market has seen significant activity in 2026, with regulatory clarity in the region enabling product launches that might face more friction elsewhere. Kraken’s card rollout comes as the broader European crypto landscape continues to evolve, including shifts in stablecoin availability across European platforms.
According to current media coverage, the card will expand to other markets, though Kraken has not published a specific timetable for additional regions. The exchange has also been rebuilding its mobile app around new features, suggesting the debit card is part of a broader product expansion strategy beyond its UK and European debut.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.