Crypto exchange Kraken is teaming up with Mastercard to launch a suite of physical and digital debit cards that will allow customers in the UK and Europe to spend their cryptocurrencies and stablecoins at more than 150 million merchants worldwide.
The new cards will enable seamless real-world payments using digital assets, marking a significant leap in Kraken’s mission to bridge crypto with everyday utility. Users will be able to transact with their preferred crypto holdings anywhere Mastercard is accepted, with the conversion happening instantly at the point of sale.
“Our customers want to be able to easily pay for real-world goods and services with their cryptocurrencies or stablecoins,” said Kraken co-CEO David Ripley. “Our partnership with Mastercard is a major step in realizing this vision.”
Mastercard’s EVP of global partnerships, Scott Abrahams, added: “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.”
The move builds on Kraken Pay, the company’s recently launched payments platform that supports instant, borderless transactions in over 300 cryptocurrencies and fiat currencies. In just 90 days, more than 200,000 Kraken customers have activated their unique “Kraktag” to send and receive money globally.