Kraken Partners With Mastercard For Crypto Debit Cards In UK, Europe

Cryptocurrency exchange Kraken has announced a significant partnership with Mastercard to issue crypto debit cards across the United Kingdom and Europe. This collaboration marks a strategic move for Kraken to expand its payment offerings in these regions, allowing users to spend their cryptocurrencies and stablecoins directly through physical debit cards. The rollout of these cards is set to begin in the coming weeks, with a waitlist already open for interested customers.

The partnership aligns with Kraken's ongoing efforts to secure a license under the European Union’s regulatory framework, the Markets in Crypto-Assets Regulation (MiCA). This regulatory compliance is crucial for Kraken as it seeks to integrate more seamlessly into the traditional financial ecosystem while leveraging the benefits of cryptocurrencies.

This initiative builds on the success of Kraken Pay, a tool launched in January 2025 that enables customers to send money from their Kraken accounts. Kraken Pay supports over 300 crypto assets and allows for international money transfers. Additionally, it introduces a paylink feature, which simplifies the payment process through a URL. Since its launch, more than 200,000 customers out of Kraken's 15 million user base have activated Kraktag, a unique user identifier that enhances privacy by allowing users to receive money without exposing their full bank account details.

Kraken's co-CEO, David Ripley, emphasized the transformative potential of cryptocurrencies in the payments industry. He stated that the partnership with Mastercard is a significant step towards making crypto a viable option for everyday transactions. Ripley highlighted that clients are increasingly looking for ways to use their crypto assets for real-world purchases, and this collaboration aims to fulfill that demand. By integrating crypto payments into the Mastercard network, Kraken and Mastercard are working together to ensure that cryptocurrencies remain relevant and usable in the long term.