Mastercard Announces Partnership With Kraken To Enable Crypto Payments in Europe

The US-based crypto exchange Kraken and the global financial services giant Mastercard are joining forces to drive the widespread use of crypto payment services in the UK and Europe.

In a new press release, Kraken says the partnership will enable its millions of customers in the region to use their crypto assets when paying for goods and services at more than 150 million merchants worldwide that accept Mastercard.

Says Kraken co-CEO David Ripley,

“Our customers want to be able to easily pay for real goods and services with their cryptocurrencies or stablecoins. Our partnership with Mastercard is a major step in realizing this vision. Together, we will reveal the full potential of crypto-assets on a daily basis, ensuring their relevance and usefulness in the long term.”

Kraken and Mastercard are teaming up to accelerate crypto payments following the success of Kraken Pay, a new feature on the Kraken app that allows users to send instant and borderless payments in more than 300 cryptocurrencies and fiat currencies.

Ninety days after the feature launched, more than 200,000 customers activated their Kraktag— the unique identifier used for sending and receiving funds through Kraken Pay.

The exchange will launch physical and digital debit cards in the coming weeks as part of the collaboration. Customers who want to take advantage of the new crypto payment offer can register for the waiting list.

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