Crypto exchange Kraken is teaming up with Mastercard to enable UK and European users to spend cryptocurrencies at over 150 million merchants globally. This partnership will introduce both physical and digital debit cards for users to make everyday purchases with crypto and stablecoins. The cards, set to launch soon, will sync with Kraken Pay, a cross-border payment platform supporting transactions in over 300 crypto and fiat currencies.
Kraken announced that over 200,000 users have activated their unique “Kraktag” identifiers, simplifying global transfers. A waitlist for the new debit cards is now open. This collaboration with Mastercard aims to increase the practical use of digital assets in daily transactions. Kraken Co-CEO David Ripley expressed enthusiasm, highlighting the transformative impact of crypto on the payments industry.
The partnership underscores the growing integration of crypto into traditional finance. Mastercard has previously partnered with Mercado Bitcoin for peer-to-peer crypto transactions using wallet aliases.
Looking ahead, Kraken is considering a 2026 IPO, bolstered by an improved regulatory environment under President Donald Trump. Recently, the SEC agreed to drop its lawsuit against Kraken without penalties or business changes. Additionally, Kraken secured an Electronic Money Institution (EMI) license from the UK’s Financial Conduct Authority, enhancing its services for UK users.
This development strengthens Kraken’s ability to collaborate with traditional financial institutions and expand its offerings. The partnership with Mastercard marks a significant step in making crypto more accessible for everyday use.
