Cryptocurrency exchange Kraken is collaborating with Mastercard to enable customers in the UK and Europe to spend their crypto at more than 150 million merchants globally.
This partnership will introduce both physical and digital debit cards, allowing users to make purchases using their cryptocurrencies and stablecoins wherever Mastercard is accepted.
David Ripley, co-CEO of Kraken, stated, “Our customers want to be able to easily pay for real-world goods and services with their cryptocurrencies or stablecoins. Our partnership with Mastercard is a major step in realizing this vision.”
Scott Abrahams, EVP of global partnerships at Mastercard, commented, “With a shared ambition to simplify, interoperate, and secure the digital asset ecosystem, we are proud to collaborate with Kraken and bring real value to their user base.”
Additionally, this collaboration expands on the recently launched Kraken Pay, which facilitates instant, borderless payments in over 300 cryptocurrencies and fiat currencies. Within just 90 days, more than 200,000 Kraken customers have activated their “Kraktag” and are sending money worldwide.