A payments app built by crypto exchange Kraken just launched a cash back debit card in bid for consumer wallets
Rewards are paid directly as money rather than points.It also lets customers spend directly from more than 600 currencies and crypto assets, automatically converting whichever balances they choose into dollars at the point of purchase. Users can set the order in which their assets are spent and have the option to split a single purchase across multiple balances.The move puts Krak in more direct competition with payments and fintech super apps — including Block's CashApp, PayPal's Venmo, SoFi, Robinhood and Chime. It comes as crypto is increasingly embedded within the broader financial system, and industry players are competing to serve as the distribution layer for a wider range of financial products.
- ▪Rewards are paid directly as money rather than points.It also lets customers spend directly from more than 600 currencies and crypto assets, automatically converting whichever balances they choose into dollars at the point of purchase.
- ▪Users can set the order in which their assets are spent and have the option to split a single purchase across multiple balances.The move puts Krak in more direct competition with payments and fintech super apps — including Block's CashApp,
- ▪It comes as crypto is increasingly embedded within the broader financial system, and industry players are competing to serve as the distribution layer for a wider range of financial products.
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Record
| Original publisher | CNBC |
| Canonical URL | https://www.cnbc.com/2026/08/18/kraken-launches-debit-card-in-bid-for-consumer-wallets.html |
| Publication time | Tue, 18 Aug 2026 14:17:37 GMT |
| Retrieval time | 2026-08-18T14:20:48.337Z |
| Last seen | 2026-08-18T14:20:48.337Z |
| Headline source | Publisher (no WeSearch rewrite) |
| Excerpt source | publisher body |
| Excerpt method | First ~120 words (~800 chars) of extracted publisher body, fair-use limited. |
| Summary | WeSearch · cerebras-chat (WeSearch summarizer) |
| Summary source text | contentText |
| Citation coverage | Summary is a WeSearch-generated derivative; primary citation is the original publisher URL. |
| Cluster | None |
| Cluster logic | Not yet clustered, or no peer story found in the clustering window. |
| Ranking reason | Story pages are not engagement-ranked. Hub feeds use recency, with optional source-diversified chronological ordering (cap consecutive stories per source). No personalized ranking. |
| Publisher visit | Yes — open original |
| Substitutes article? | No — link-out required for full text |
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| Indexing | May the item be indexed (stored, ranked, made findable)? | Allowed |
| Snippet | May a short excerpt of the publisher's text be shown? | Allowed |
| AI summary | May WeSearch generate its own short summary of the article? | Limited |
| Retrieval / RAG | May the content be exposed for third-party retrieval-augmented generation? | Not asserted |
| Model training | May the content be used to train AI models? | Not asserted |
| Commercial reuse | May the content be reused commercially? | Not permitted |
Basis: Derived from the published RSS/Atom feed. Contact: [email protected]. Reviewed: 2026-07-24.
Opening excerpt (first ~120 words) tap to expand
A payments app from the makers of the crypto exchange Kraken is launching a cashback U.S. debit card, vying for a place in consumer wallets as crypto evolves from an asset class into infrastructure for mainstream financial products.The card, called the Krak Card and issued by the affiliate money app of the same name, offers up to 2% cash or bitcoin back, with the rate increasing based on the value of assets a customer holds. Rewards are paid directly as money rather than points.It also lets customers spend directly from more than 600 currencies and crypto assets, automatically converting whichever balances they choose into dollars at the point of purchase.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at CNBC.
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