Kraken and Mastercard joined forces to bring cryptocurrency payments into everyday life for users across Europe and the U.K., enabling residents to pay with digital assets at over 150 million merchant locations.
Payment giant Mastercard announced a strategic partnership with crypto exchange Kraken aimed at accelerating the adoption of crypto payments in Europe and the United Kingdom. Together, the companies plan to simplify and expand the day-to-day use of digital assets.
Thanks to this collaboration, Kraken users will be able to pay with cryptocurrencies and stablecoins at more than 150 million merchants worldwide connected to the Mastercard network. Payments will be processed through Kraken Pay, a service launched by the exchange earlier this year, which has already attracted over 200,000 users.
Kraken Pay enables instant cross-border transfers using more than 300 digital and fiat currencies stored in a user’s Kraken account. To send funds, users can generate a Paylink, a simple and secure URL that can be shared via any messaging app. The service also supports the creation of Kraktags, unique, secure identifiers for Kraken Pay users.
The next step in the Kraken-Mastercard partnership will be the launch of physical and digital debit cards, making it even easier to use crypto for everyday spending. According to David Ripley, Co-CEO of Kraken, the future of the global e-commerce industry is closely tied to the development of crypto payments. Scott Abrahams, Mastercard’s SVP of Global Partnerships, confirmed the company’s commitment to advancing digital innovation, emphasizing that the partnership with Kraken is focused on building a secure, intuitive, and interoperable crypto ecosystem for mainstream adoption.
Max Krupyshev, CEO of CoinsPaid, also expressed confidence that crypto payment services help solve real-world challenges in the FinTech space. According to him, many Europeans are interested in using cryptocurrencies for everyday expenses. “Around one-third of all crypto users, based on various studies across different markets, view digital assets as a viable means of payment,” Krupyshev said.
