Kraken, a major crypto exchange, has introduced the Krak Card, a U.S. debit card that offers up to 2% cash or bitcoin back, with rewards paid directly as money rather than points. The card allows spending from over 600 currencies and crypto assets, converting them to dollars at purchase, and lets users customize spending order and split payments. This move positions Kraken against fintech apps like CashApp and Venmo, aiming to deepen customer engagement by retaining deposits and increasing spending on its platform. Kraken leverages its crypto-native identity to attract users as crypto integrates further into mainstream finance.
SoFi Technologies reported strong Q2 results with revenue up 42.6% year-over-year to $1.22 billion, driven by rapid innovation and robust membership growth reaching a record 15.81 million. This growth fuels increased product usage per member and new ...
SoFi Technologies was downgraded from Strong Buy to Buy due to strong lending growth and financial services but ongoing underperformance in its tech platform. The lending segment showed a 69% year-over-year increase in loan originations and strong ri...
