"Kraken and Mastercard to Launch Crypto Debit Cards in Europe"

Kraken Partners with Mastercard to Launch Crypto Debit Cards in Europe and UK

Cryptocurrency exchange Kraken has announced a partnership with Mastercard to introduce crypto debit cards across the United Kingdom and Europe. This collaboration will allow Kraken to expand its payment options by launching physical crypto debit cards.

The move comes as Kraken is actively seeking a license under the regulatory framework of the European Union, particularly the Markets in Crypto-Assets Regulation (MiCA). The new debit card will enable users to spend cryptocurrencies and stablecoins directly. The rollout is expected to commence in the upcoming weeks, with a waitlist currently open to customers.

Building on Kraken Pay's Success

The partnership with Mastercard builds on the success of Kraken Pay, a recent tool introduced by Kraken that enables users to send money from their Kraken accounts. Launched in January 2025, Kraken Pay allows users to send over 300 crypto assets to various countries worldwide. Additionally, it features a paylink function that facilitates payments through a simple URL.

Since the launch of Kraken Pay, over 200,000 customers out of Kraken's 15 million user base have activated Kraktag, a unique user identifier that allows users to receive funds without divulging their complete bank account details.

Rise of Crypto Payments

According to Kraken co-CEO David Ripley, cryptocurrency is revolutionizing the payments industry, with a vision of global commerce being driven by crypto assets. Ripley stated, "Our clients desire seamless payment options for real-world goods and services using their crypto or stablecoins. Partnering with Mastercard is a significant step towards realizing this vision."

Ripley added, "Together, we will unlock the everyday utility of crypto, ensuring its continued relevance and usability over the long term."

Mastercard's Commitment to Crypto

Mastercard's collaboration with Kraken marks another milestone in the company's efforts within the cryptocurrency space. Mastercard has partnered with various crypto service providers, including the self-custodial crypto wallet MetaMask and the European crypto payments infrastructure provider, Mercuryo.

Scott Abrahams, Mastercard's executive vice president of global partnerships, emphasized the company's commitment to innovation and expanding the possibilities of digital payments. Abrahams stated, "Our partnership with Kraken demonstrates our dedication to unlocking the true potential of crypto assets for everyday use."