According to CoinMeta, Kraken has announced the launch of a U.S. debit card Krak Card that offers cash back, aiming to compete for consumer wallets as cryptocurrencies gradually become the infrastructure of mainstream financial products. The card provides cash or Bitcoin returns of up to 2%, with the return rate increasing based on the value of the assets held by the customer, and the rewards are paid directly in cash. Users can use over 600 currencies and crypto assets for purchases, and the system automatically converts the selected balance into U.S. dollars at the time of purchase. This move puts Kraken in competition with other fintech applications such as CashApp, PayPal, and Venmo from Kraken and Block. Kraken issues the cards through partner banks and is subject to the restrictions on U.S. debit card transaction fees, which limit the transaction income available to support these rewards. Kraken hopes to increase its capture of customers' financial lives through this new debit card, retain deposits, and promote consumption.