Expanding the Vision of a Global Money App
Krak, the global money app developed by Kraken, is advancing its strategy to unify everyday payments, digital assets, and lifestyle experiences into a single platform with the launch of three major product upgrades designed to increase real-world value for users. These developments include a new tiered cashback system offering up to 2% rewards, the debut of the first Krak Metal Mastercard debit card for eligible customers across the UK and EEA, and the rollout of Krak Concierge, an integrated hotel and flight booking service with boosted cashback rewards of up to 6%. Together, these launches signal a broader shift toward transforming the role of a money app from a simple spending tool into a comprehensive financial and lifestyle ecosystem that rewards customers continuously and seamlessly. The company’s leadership emphasizes that modern consumers expect their money to work harder for them automatically, without complex requirements, subscriptions, or credit dependencies. The new enhancements aim to simplify how rewards are earned and redeemed while creating a consistent value loop between saving, holding assets, and everyday spending. Krak’s evolving platform is positioned to serve globally minded consumers who travel frequently, manage multi-currency balances, and seek integrated financial solutions that span payments, travel, and digital assets in a frictionless environment.
Reinventing Cashback with a Tiered Rewards Model
The introduction of a tiered cashback structure represents a major evolution from Krak’s previous flat 1% cashback program. The redesigned system now connects rewards directly to a customer’s 30-day average balance across Krak, Kraken, and Kraken Pro accounts, creating a dynamic framework where benefits increase as users deepen their engagement with the ecosystem. At the entry tier, customers holding balances up to £200 or €200 begin earning 0.5% cashback on everyday spending, ensuring immediate value from the start of their journey. As balances grow, customers automatically move through progressively higher reward tiers, unlocking increased cashback percentages without needing to enroll in additional programs or meet spending thresholds. At the highest tier, customers maintaining balances of £50,000 or €50,000 or more can earn up to 2% cashback on purchases, positioning the Krak debit offering among the most competitive rewards structures available in the debit card market. This model emphasizes transparency and simplicity, removing traditional barriers such as subscription fees, credit checks, or complex redemption rules. The approach reframes cashback as an ongoing benefit that grows alongside a customer’s financial activity and holdings, effectively transforming everyday spending into a consistent mechanism for generating value. By aligning rewards with customer balances, Krak encourages long-term engagement while reinforcing the idea that holding assets and spending through the platform are part of a unified financial experience.
Turning Everyday Spending into Continuous Value
The new rewards system is designed to make earning benefits feel effortless and automatic. Rather than requiring customers to track rotating categories, enroll in promotional campaigns, or navigate tier qualification periods tied to monthly spending thresholds, the Krak model uses average balances as the primary driver of reward levels. This creates a straightforward and predictable experience where customers understand exactly how to increase their rewards over time. The design also encourages a long-term relationship with the platform by linking savings and spending into a single value loop. As balances grow, rewards improve, and as rewards accumulate, customers gain further incentive to continue using the platform for everyday purchases. This creates a reinforcing cycle of engagement that benefits both customers and the broader ecosystem. The simplicity of the structure is intended to appeal to a wide audience, from new users seeking immediate rewards to experienced customers managing significant multi-asset portfolios. By removing friction and complexity, Krak aims to redefine how debit card rewards function in a digital-first financial landscape.
Launch of the Krak Metal Mastercard Debit Card
The debut of Krak’s first Metal Mastercard debit card marks another significant milestone in the platform’s expansion. Following the rapid issuance of more than 60,000 Coral and Black Mastercard debit cards within just four months, the company is introducing a premium stainless-steel card tailored for eligible customers across the UK and EEA. Crafted from precision-milled stainless steel, the Metal Card is designed to reflect durability, premium quality, and global functionality. The card is powered by Payward’s multi-asset infrastructure and integrates directly with Mastercard’s global payments network, ensuring widespread acceptance and reliability for users traveling or spending internationally. The Metal Card supports seamless payments across more than 600 cryptocurrencies and fiat currencies, enabling near-instant crypto-to-fiat conversion at the point of purchase. This functionality removes the need for manual conversions and allows customers to spend directly from their preferred asset balances. The card also offers no foreign exchange fees and no ATM withdrawal fees, reducing the cost of international travel and cross-border spending. These features collectively position the Metal Card as a premium payment solution for globally mobile customers who want to access their funds anywhere in the world without additional friction.
Intelligent Multi-Asset Spending Technology
One of the most innovative aspects of the Metal Card is its intelligent funding system, which automatically draws from a customer’s preferred balances to complete transactions. Customers can set their preferred spending order, allowing the platform to combine multiple balances when necessary to cover a purchase while excluding any assets the user has chosen to restrict. This intelligent orchestration eliminates the need for manual transfers or pre-conversion between currencies and digital assets. By automating the funding process, Krak reduces friction at the point of sale and creates a seamless spending experience that feels as intuitive as using a traditional debit card. The system is designed to accommodate the complexities of managing multiple asset types while maintaining a simple and familiar user experience. Customers can travel, shop, and pay confidently knowing their balances will be used efficiently and intelligently to complete transactions.
Eligibility and Premium Positioning of the Metal Card
The Krak Metal Card is available to customers who maintain an average balance of £50,000 or €50,000 across Krak, Kraken, and Kraken Pro. This eligibility requirement aligns the premium card offering with the highest cashback tier, ensuring that customers who qualify for the Metal Card also benefit from the maximum rewards structure. The positioning of the Metal Card reflects Krak’s focus on delivering a premium experience for customers who expect advanced capabilities, global acceptance, and enhanced rewards. By combining luxury design with advanced financial technology, the card represents a convergence of aesthetics, functionality, and value. The launch also reinforces Krak’s strategy to build a tiered ecosystem where customers can unlock increasingly sophisticated features as their engagement grows.
Introducing Krak Concierge for Travel and Lifestyle Experiences
Krak Concierge represents a major expansion beyond payments and rewards into travel and lifestyle services. This new in-app experience allows customers worldwide to book hotels and flights directly within the Krak app while earning boosted cashback rewards of up to 6% on hotel bookings. The service offers access to exclusive member-only rates across more than 2.2 million hotels and resorts globally, ranging from budget accommodations to luxury destinations. Customers can save up to 60% compared to traditional booking platforms, creating a compelling value proposition for frequent travelers. The integration of travel booking into the Krak app reflects a broader trend toward embedding lifestyle services within financial platforms. By combining travel planning, booking, and payment in a single interface, Krak aims to simplify the travel experience while increasing the utility of its ecosystem.
Partnership with Entravel and AI-Powered Booking Technology
Krak Concierge is built in partnership with Entravel, an AI-powered crypto-native hotel booking platform. The collaboration enables customers to browse, book, and pay using hundreds of supported crypto and fiat balances directly within the app. This integration allows customers to leverage their digital assets for real-world travel expenses without leaving the platform. The partnership also provides access to advanced pricing and availability tools that help deliver competitive rates and a seamless booking experience. Customers can choose to pay using their Krak balances or Krak Cards, creating flexibility in how travel purchases are funded. The integration underscores Krak’s commitment to embedding practical, real-world use cases into its platform and expanding the scope of what a financial app can offer.
Creating a Unified Rewards Ecosystem
The introduction of Krak Concierge complements the cashback program and Metal Card, forming a unified rewards ecosystem that spans everyday spending and travel. Customers can earn rewards when shopping locally, traveling internationally, or booking accommodations through the app. This integrated approach reinforces Krak’s vision of delivering consistent value across multiple aspects of daily life. The platform’s ability to connect payments, savings, travel, and rewards creates a cohesive experience that reduces the need for multiple apps and services. By centralizing these functions, Krak aims to simplify financial management while increasing the benefits available to users.
Accelerating Growth and Ecosystem Expansion
The launch of these new features marks a significant step in Krak’s broader growth strategy. The company plans to expand the Concierge offering with additional premium merchants, exclusive perks, and curated experiences in the coming months. This roadmap includes partnerships with lifestyle brands, travel providers, and service platforms that can enhance the rewards ecosystem. The goal is to create a continuously evolving platform that adapts to customer needs and delivers new value opportunities over time. As the ecosystem grows, Krak aims to strengthen customer loyalty and deepen engagement through ongoing innovation.
Strengthening the Value Proposition for Global Customers
Krak’s latest announcements reflect a commitment to delivering a high-value platform for globally mobile customers. By combining cashback rewards, premium payment tools, and travel services, the company is building a comprehensive financial and lifestyle solution designed for modern consumers. The platform’s ability to support multiple currencies, digital assets, and international travel needs positions it as a versatile tool for a global audience. These enhancements are intended to simplify financial management while providing meaningful rewards and experiences.
About Kraken
Founded in 2011, Kraken is one of the world’s longest-standing and most secure crypto platforms globally. Kraken clients trade more than 600 digital assets, traditional assets such as U.S. futures and U.S.-listed stocks and ETFs, and 6 different national currencies, including GBP, EUR, USD, CAD, CHF, and AUD. Trusted by millions of institutions, professional traders and consumers, Kraken is one of the fastest, most liquid and performant trading platforms available.
Kraken’s suite of products and services includes the Kraken App, Kraken Pro, the Krak App, Kraken Institutional, Kraken’s onchain offerings and the Ninja Trader retail trading platform. Across these offerings, clients can buy, sell, stake, earn rewards, send and receive assets, custody holdings, and access advanced trading, derivatives, and portfolio management tools.
Kraken has set the industry standard for transparency and client trust, and it was the first crypto platform to conduct Proof of Reserves. It complies with regulations and laws applicable to its business, while actively protecting client privacy and maintaining the highest security standards.
For more information about Kraken, please visit www.kraken.com.
About Mastercard
Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we’re building a resilient economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.
For more information about Mastercard, please visit www.mastercard.com.
About Entravel
Entravel is the world’s leading crypto travel infrastructure provider, powering travel platforms for major crypto brands, fintechs and neobanks. Entravel offers private, members-only rates on over 2.2 million hotels, with discounts of up to 60% compared to mainstream booking platforms.
*Note: A variable spread applies when spending across assets. Third-party ATM fees may apply.
