Kraken Partners with Mastercard to Bring Crypto Payments to 150M Merchants in UK and Europe

Crypto exchange Kraken is joining forces with Mastercard to allow digital asset holders in the UK and Europe to spend their cryptocurrencies at over 150 million merchants worldwide.

As part of the partnership, Kraken will soon launch both physical and digital debit cards that enable users to spend crypto and stablecoins for everyday purchases, according to a recent press release.

These cards will integrate directly with Kraken Pay, the exchange’s cross-border payment platform introduced earlier this year.

Kraken Pay Enables Transactions in 300+ Currencies

Kraken Pay supports transactions in more than 300 crypto and fiat currencies, expanding the real-world utility of digital assets.

According to the press release, over 200,000 users have already activated their personal “Kraktag”—a unique identifier linked to their Kraken wallet—which streamlines global transfers and simplifies the payment process.

The new debit cards are expected to be rolled out in the coming weeks, with a waitlist now open for interested users.

Kraken, which serves more than 15 million customers worldwide, is leveraging Mastercard’s extensive payment infrastructure to broaden access to crypto-based financial tools.

The goal is to make digital assets more practical for real-world transactions.

“Crypto is transforming the payments industry, and we envision a future where global commerce and everyday payments are powered by cryptoassets,” said Kraken Co-CEO David Ripley.

“Our customers want to be able to easily pay for goods and services with their cryptocurrencies or stablecoins. This partnership with Mastercard is a major step toward making that vision a reality.”

. @Mastercard and @krakenfx have announced a partnership that will allow European users spend Bitcoin and other cryptocurrencies at over 150 million merchants worldwide. Kraken Pay enables instant, borderless payments across 300+ crypto and fiat currencies.

But this isn’t just… pic.twitter.com/22Vp3O9wSc

— Alex Garcia (@AlexGarciaaX) April 8, 2025

The announcement highlights growing momentum around integrating crypto into traditional financial systems.

Mastercard, which previously partnered with Mercado Bitcoin to pilot peer-to-peer crypto transactions using simplified wallet aliases, is continuing to push boundaries in the digital payments space.

Kraken Mulls 2026 IPO

Kraken is preparing for an initial public offering (IPO) as early as the first quarter of 2026, taking advantage of what appears to be a more favorable regulatory climate under President Donald Trump.

Kraken’s IPO plans are not yet final and could change in the coming months.

As reported, the SEC has agreed in principle to dismiss its lawsuit against cryptocurrency exchange Kraken, according to a statement from the company.

The case will be dropped with prejudice, meaning it cannot be refiled. Kraken will not admit to any wrongdoing, pay penalties, or change its business operations.

The SEC sued Kraken in November 2023, alleging it operated as an unregistered securities exchange, broker, clearing agency, and dealer.

The regulator also accused the company of commingling customer and corporate funds.

Kraken contested the charges, leading a federal judge to rule the case had enough merit to proceed to trial.

More recently, Kraken also received an Electronic Money Institution (EMI) license from the UK’s Financial Conduct Authority (FCA), allowing the crypto exchange to issue electronic money and enhance deposits and withdrawals for UK customers.

With this regulatory approval, Kraken can now partner with traditional financial institutions and expand its offerings to better serve UK users.