Kraken Krak App Debuts Cashback Card, Salary Deposit & Vaults
Kraken Krak App has launched a Mastercard-backed multi-asset cashback debit card across the UK and EU. The Krak card offers up to 1% cashback in fiat or Bitcoin and supports over 400 crypto and fiat balances with real-time conversion at checkout. There are no monthly or foreign exchange fees.
The Krak App also adds an IBAN-based salary deposit feature. Users can receive paychecks directly in their Krak accounts. This simplifies earning, saving and spending within a single crypto-first account.
Enhanced wealth tools include Vaults linked to audited DeFi protocols. These Vaults deliver potential APYs above 10%, plus up to 3.6% yield on eligible assets. Kraken Krak App maintains 1:1 fiat reserves and operates under a MiCAR licence approved by the Central Bank of Ireland.
Since its June 2025 debut, the Krak App has surpassed 450,000 downloads in 130 countries. Crypto traders can now leverage cashback rewards, direct salary deposits and high-yield Vaults to streamline capital management.
Neutral
In the context of crypto markets, Kraken Krak App’s launch of a cashback card, salary deposit feature and high-yield Vaults is largely a product enhancement. It does not introduce a new token or significant supply change that would affect prices directly. Short-term market reactions are expected to be muted as traders assess practical benefits rather than speculative catalysts. Over the long term, improved user experience and access to high-yield DeFi products may support gradual adoption and demand for cryptocurrencies like Bitcoin, but this growth is unlikely to trigger sharp price movements.