Mastercard and Kraken teamed up to enable the direct use of crypto for everyday spending. Mastercard will provide the rails for physical and virtual cards tied to Kraken accounts. Over 300 crypto and fiat currencies supported. The debit cards are expected to be available in the coming weeks.
Crypto exchange Kraken is teaming up with Mastercard to let crypto holders in the UK and Europe spend their digital assets at more than 150 million merchants worldwide, Mastercard announced.
Kraken will offer physical and digital debit cards, allowing customers to use crypto and stablecoins in everyday transactions. It’s the latest development in Kraken Pay, a service that debuted earlier this year that enables cross-border payments in over 300 crypto and fiat currencies.
David Ripley, Kraken’s co-CEO, said the initiative aims to close the gap between the crypto economy and traditional spending. “Our customers want to easily pay for real-world goods and services using their crypto or stablecoins,” Ripley said.
Panagiotis Kriaris, Head of Business & Corporate Development at Unzer, commented:
𝗪𝗵𝘆 𝗶𝘀 𝘁𝗵𝗲 𝗽𝗮𝗿𝘁𝗻𝗲𝗿𝘀𝗵𝗶𝗽 𝗯𝗶𝗴 𝗻𝗲𝘄𝘀?
– It brings crypto spending into the mainstream – a step toward making digital assets usable like traditional money.
– It helps close the gap between traditional finance and the crypto economy.
– This isn’t a test pilot – it’s a real-world implementation with global reach.
𝗪𝗵𝘆 𝗱𝗼𝗲𝘀 𝗶𝘁 𝗺𝗮𝗸𝗲 𝘀𝗲𝗻𝘀𝗲 𝗳𝗼𝗿 𝗠𝗮𝘀𝘁𝗲𝗿𝗰𝗮𝗿𝗱 𝗮𝗻𝗱 𝗞𝗿𝗮𝗸𝗲𝗻?
1. Both companies gain from expanding crypto’s role in everyday payments.
2. Mastercard taps into a younger, digital-native audience and stays ahead in the shift toward new payment rails.
3. Kraken moves beyond trading, positioning itself as a full-stack financial platform.
-4. The partnership combines Mastercard’s global scale and trust with Kraken’s innovation and crypto-native user base.
5. It reflects a shift from speculation toward practical, real-world use — increasing both companies’ strategic relevance.
𝗪𝗵𝘆 𝗠𝗮𝘀𝘁𝗲𝗿𝗰𝗮𝗿𝗱 𝗱𝗶𝗱𝗻’𝘁 𝗴𝗼 𝗳𝗼𝗿 𝗯𝗶𝗴𝗴𝗲𝗿 𝗽𝗹𝗮𝘆𝗲𝗿𝘀?
– Binance carries high regulatory risk — a reputational red flag for Mastercard.
– Coinbase is heavily U.S.-focused and publicly traded, which can limit agility in global, experimental rollouts.
– Kraken strikes a regulatory middle ground: credible, compliant, and better aligned with Mastercard’s rollout focus in Europe.
𝗜𝗺𝗽𝗹𝗶𝗰𝗮𝘁𝗶𝗼𝗻𝘀:
– Crypto could become as easy to spend as fiat, especially in Europe where regulation is clearer.
– Expect more partnerships between crypto platforms and payment networks.
– Traditional banks may feel pressure to modernize or risk losing market share.
– Regulatory scrutiny will increase – especially around compliance, privacy, and consumer protection.
________
Kraken is one of the largest centralized crypto exchanges, with around 13 million users ( far smaller than Binance ≈250 million or Coinbase ≈110 million) and with a quarterly trading volume of more than $207B.
Founded in 2011, it offers trading, custody, staking (earning rewards for helping run a crypto network), and now payment services. The platform allow users to buy and sell 396 cryptocurrencies.
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