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Mastercard and Kraken Partner to Bring Crypto Payments to Millions of Merchants in Europe and UK
Mastercard has announced a groundbreaking partnership with Kraken, a leading cryptocurrency exchange, to integrate crypto payments into their systems. This collaboration will enable users to make transactions using digital assets at millions of merchants across Europe and the United Kingdom.
Kraken’s 15 million-strong global user base can now link their crypto balances directly to everyday spending through physical and digital debit cards. Mastercard’s vast network, encompassing over 150 million merchants worldwide, has been leveraged for this purpose.
This monumental move signifies a significant step forward in cryptocurrency acceptance in daily financial transactions within Europe and the UK. Kraken Pay, a recent feature launched by the exchange, has already shown remarkable adoption rates. Over 200,000 users have signed up for personal “Kraktags” in just three months since its inception. These tags simplify money transfer globally.
The integration of crypto payments into routine commerce is expected to propel mainstream adoption and facilitate seamless transactions between blockchain addresses and standard financial instruments. This collaboration demonstrates Mastercard’s commitment to developing methods that connect their established financial services with the cryptocurrency market.
Mastercard has previously collaborated with Mercado Bitcoin, another innovative player in the space, to streamline peer-to-peer crypto transfers by allowing users to employ aliases for fund transfers. This new partnership solidifies their dedication to integrating digital assets into real-world transactions.
The announcement comes as a significant development in bridging the gap between cryptocurrency and mainstream finance.
Source: https://cryptonewsland.com/mastercard-and-kraken-partner-to-bring-crypto-payments-to-millions-of-merchants-in-europe-and-uk/
