- Kraken’s partnership with Mastercard allows crypto users in the UK and EU to pay seamlessly at 150 million locations.
- Kraken Pay’s rapid growth and ease of use mark a major step toward mainstreaming crypto in daily transactions.
A massive shift is hitting Europe’s financial markets as Kraken partners with Mastercard to launch crypto debit cards for users across the UK and EU. With this move, millions of Kraken users are now a swipe away from using digital currencies at over 150 million locations worldwide where Mastercard is accepted.
NEW: Mastercard partners with Kraken to allow European users spend #Bitcoin at over 150 million merchants worldwide
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— Bitcoin Magazine (@BitcoinMagazine) April 8, 2025
The foundation of this leap is Kraken Pay, a new feature introduced just three months ago. It already has over 200,000 users who’ve activated their “Kraktag,” a function that makes sending crypto feel as quick and simple as firing off a text message. It supports over 300 currencies, including both crypto and fiat.
David Ripley, co-CEO of Kraken, didn’t hold back in highlighting the significance of this moment. In his words:
Cryptos are transforming the payments industry, and we see a future where global and daily transactions will be powered by digital assets.
Debit Cards Easing Crypto Payments
The partnership doesn’t stop with software. A new line of physical and digital debit cards is on its way. These will be directly tied to Kraken accounts, making it possible to pay in crypto just like one would in pounds or euros—no need for extra conversions or technical hurdles.
Mastercard executive Scott Abrahams states the company prioritizes innovation while enhancing digital payment capabilities, directly supporting the partnership’s goals. Mastercard considers the move crucial for integrating cryptocurrency into routine transactions rather than treating it as mere speculation.
Even so, not everyone is treating this like the dawn of a new age. Thibaut Boutrou, COO of Meria, expressed that the move doesn’t surprise him. For him, this kind of deal is simply a “logical normality” given where the sector is headed.
Europe’s Digital Leap — Competition Heats Up
Europe finds itself at the heart of this transformation. The continent, already home to a fast-growing digital economy, is benefiting directly from such high-profile partnerships. It’s not just about giving people tools—it’s about raising the bar for all players in the market.
With increased competition, services improve, and costs fall. Traditional finance firms now face greater pressure to evolve or risk losing ground to leaner, more agile fintech rivals. Mastercard’s openness signals a change in tone—one that encourages others to follow rather than resist.
As more companies look to attract users who are moving toward digital-first financial solutions, the gap between old banking and new crypto continues to close. Kraken’s initiative helps tighten that gap further, turning what once felt like a niche market into a broader movement.
Marc-Antoine, a leading voice in the Web3 space, underscores the importance of entering the cryptocurrency market with informed intent. Rather than reacting to hype or social pressure, individuals must gain a clear grasp of the underlying technology and its practical use.
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