PANews reported on November 25th that, according to The Block, Kraken announced the launch of its Krak app in the UK and Europe as a Mastercard debit card, supporting real-time payments across multiple assets with a 1% cashback. It also launched "Vaults," a DeFi protocol-connected platform with a target annualized return of over 10%, and supports direct salary deposits via IBAN. Kraken aims to establish Krak as a primary multi-asset account, a viable alternative to traditional bank accounts. Kraken emphasizes that Krak is not a bank and does not offer FSCS or FDIC insurance, but promises 1:1 fiat currency custody and leverages its licensed operations under the EU's MiCA regulatory framework to expand related services.PANews reported on November 25th that, according to The Block, Kraken announced the launch of its Krak app in the UK and Europe as a Mastercard debit card, supporting real-time payments across multiple assets with a 1% cashback. It also launched "Vaults," a DeFi protocol-connected platform with a target annualized return of over 10%, and supports direct salary deposits via IBAN. Kraken aims to establish Krak as a primary multi-asset account, a viable alternative to traditional bank accounts. Kraken emphasizes that Krak is not a bank and does not offer FSCS or FDIC insurance, but promises 1:1 fiat currency custody and leverages its licensed operations under the EU's MiCA regulatory framework to expand related services.