Kraken Teams Up With Mastercard to Introduce Crypto Debit Cards

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.

More than 200,000 users have already activated their “Kraktag,” a unique identifier tied to their Kraken wallet, simplifying the use of Kraken Pay’s services, according to the press release.

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.

The debit cards are expected to be available in the coming weeks.