TechFlow, April 9 — According to Financefeeds, on April 9, Mastercard and cryptocurrency exchange Kraken announced a partnership aiming to enable cryptocurrency payments at over 150 million merchants worldwide that accept Mastercard. Under the collaboration, Kraken users will be able to spend their crypto assets such as Bitcoin and Ethereum via physical and digital debit cards, with cryptocurrencies converted into fiat currency in real time during transactions.
Kraken has previously launched its Kraken Pay feature, allowing users to transfer both cryptocurrencies and fiat currencies globally using the "Kraktag" identifier. The company has obtained an Electronic Money Institution license from the UK Financial Conduct Authority (FCA), providing a regulatory foundation for its operations in Europe.
David Ripley, Co-CEO of Kraken, stated that the partnership aims to expand practical use cases for cryptocurrencies. The service is expected to launch in the UK and EU markets later this year, with potential expansion to other regions in the future.
