Kraken launches Mastercard, entering the new banking market.

According to DLnews, Kraken has launched a Mastercard debit card for UK and European users, offering up to 1% cash or Bitcoin rewards with no foreign exchange or monthly fees. This move marks Kraken's entry into the increasingly fierce competition among new banks. Kraken is also expanding its Vaults savings feature, offering users up to 10% returns through a decentralized finance protocol. The exchange has also launched direct salary deposit services for EU and UK users. This competitive trend is significant: Coinbase already offers debit cards and is exploring stock trading and prediction markets; Crypto.com has launched similar services; and fintech companies such as Revolut, Robinhood, PayPal, and Stripe are actively deploying blockchain technology. Robinhood CEO Tenev has even declared that tokenization will devour the entire financial system. These companies aim to create comprehensive financial applications covering payments, investments, and consumption services.