Crypto exchange Kraken has joined forces with Mastercard to allow cryptocurrency owners in the UK and Europe to utilize their digital currencies at over 150 million merchants globally, as announced by Mastercard.
Kraken plans to roll out both physical and digital debit cards, enabling users to spend crypto and stablecoins for everyday purchases. This move represents the latest enhancement to Kraken Pay, a service launched earlier this year that facilitates cross-border transactions in more than 300 cryptocurrencies and fiat currencies.
According to a press release, over 200,000 customers have already activated their unique “Kraktag,” which is affiliated with their Kraken wallet, making it easier to access Kraken Pay’s services.
David Ripley, co-CEO of Kraken, expressed that this initiative is aimed at bridging the divide between the crypto economy and traditional spending. He remarked that “Our customers wish to seamlessly pay for tangible goods and services using their crypto or stablecoins.”
The issuance of these debit cards is anticipated in the next few weeks.