Kraken expands its Krak app and launches the Krak Card in the UK and EU, positioning itself as a primary financial account offering control over digital assets and traditional currencies. The Krak Card offers 1% cash back on all purchases with instant settlement in fiat currencies and Bitcoin.

Customers can spend from over 400 supported assets on the Krak app seamlessly at any store, with the ability to fund a single transaction with multiple assets. The expansion addresses a gap between consumer expectations and what legacy banks and neobanks currently provide.

Kraken Vaults will give users access to decentralized finance lending protocols targeting double-digit yields, with upcoming salary deposits for UK and EU users. With over 450,000 downloads since June, Krak is poised to compete with traditional banks and digital-only financial platforms.

Read more at Yahoo Finance: Krak Card Aims to Pull Users Away from Traditional Banks