The collaboration will allow users to pay in bitcoin at over 150 million merchants across the UK and Europe.
Crypto exchange Kraken has partnered with payment giant Mastercard. The partnership will enable Kraken customers to use their bitcoin and other cryptocurrencies to make purchases at more than 150 million merchants that accept Mastercard in the UK and Europe.
Scott Abrahams, Executive Vice President of Global Partnerships at Mastercard, commented:
“The partnership with Kraken is a tangible demonstration of our commitment to working together to unlock the true potential of crypto assets for everyday use.”
Kraken will leverage Mastercard’s payment infrastructure to expand its product range, including the launch of physical and digital debit cards.
The Kraken Pay system
The initiative builds on the success of Kraken Pay, a feature introduced by the exchange to enable fast payments in crypto and fiat currencies. In the three months since launch, over 200,000 users have activated their personal “Kraktag” to send money worldwide as easily as sending a text message.
David Ripley, co-CEO of Kraken, stated:
“Crypto is transforming the payments space, and we envision a future where global commerce and everyday transactions are powered by crypto assets. Our customers want to easily pay for real-world goods and services using their crypto or stablecoins. Our partnership with Mastercard is a key step toward realizing that vision.”
Kraken users in the UK and Europe can already join the waitlist for the upcoming crypto debit cards.
