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.