Mastercard teams up with Kraken to expand crypto payment services across Europe

Kraken joins the giant of Mastercard payment cards to make the cryptography payments available for users of more than 150 million traders in the UK and Europe regions.

According to the official press releaseThe partnership is based on the Kraken PAY, a functionality recently launched from the exchange of crypto which facilitates instant and borderless payments in more than 300 cryptographic and Fiat assets.

As part of the collaboration of the Crypto Society with MasterCardKraken plans to launch physical and digital debit cards in the coming weeks. Customers of the United Kingdom and Europe will be able to use these cards to spend their cryptographic holdings at more than 150 million merchants worldwide who accept Mastercard.

The partnership aims to make cryptocurrency payments more accessible, filling the gap between cryptographic space and the use of the real world. Kraken customers interested in the new cryptographic payment service launched jointly can register to reach the waiting list. At the time of the press, there are 9,518 places to reach the waiting list available on the Kraken site.

Kraken CEO David Ripley believes that crypto has the power to transform traditional payment systems. He considers the partnership with Mastercard as a means of developing the real usefulness of cryptocurrency as a daily payment option.

“Our customers want to be able to easily pay real goods and services of the real world with their cryptocurrencies or stablecoins. Our partnership with Mastercard is a major step in the realization of this vision,” said Ripley in his declaration.

Recent initiatives focused on Mastercard crypto

The executive vice-president of the world mastercard partnerships, Scott Abrahams, said that the payment company is committed to exploring the possibilities available for virtual asset payments thanks to partnerships with cryptographic companies like Kraken.

“With a shared ambition to simplify, interoperate and secure the ecosystem of digital assets, we are proud to collaborate with Kraken and bring real value to their user base,” said Abrahams.

Earlier this month, the executive vice-president of Blockchain Mastercard and Digital Assets, Raj Dhamodharan, said The company is currently working on a multi-token network powered by the blockchain. He added that today traditional financial institutions are more interested in the adoption of crypto and other blockchain technologies due to the vast potential of new commercial models.

Last February, the payment company announcement That he tokenized 30% of his transactions in 2024. He also reiterated his plans to forge collaborations with cryptographic companies to make the payments of cryptocurrency more accessible.