Cryptocurrency exchange Kraken is working with Mastercard to allow customers in the UK and Europe to spend their crypto at over 150 million merchants worldwide.
The partnership will see Kraken launch physical and digital debit cards, enabling users to pay with their crypto and stablecoins anywhere that Mastercard is accepted.
David Ripley, co-CEO, Kraken, says: "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, global partnerships, Mastercard, adds: "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 partnership builds on recently launched Kraken Pay, which enables instant, borderless payments in over 300 cryptocurrencies and fiat currencies. In 90 days, over 200,000 Kraken customers have activated their “Kraktag” and are sending money worldwide.