Kraken Launches Crypto Debit Cards in Partnership with Mastercard
Date: 2025-04-10 Author: Gabriel Deangelo Categories: BUSINESS
Cryptocurrency exchange Kraken has teamed up with Mastercard to launch both physical and virtual debit cards that will allow users to pay with cryptocurrency and stablecoins. The new cards are aimed at customers in the UK and Europe and will be accepted at over 150 million merchants worldwide.
The initiative is part of the development of the Kraken Pay service, which provides cross-border transfers in over 300 currencies, including both digital and traditional currencies. One of the key features of the service is the Kraktag identifier system, with which users can send and receive funds without using long wallet addresses. According to the company, over 200,000 people have already activated their Kraktag.
Kraken CEO David Ripley emphasized that the main goal of the new product is to simplify the use of digital assets in everyday life. According to him, customers want to pay with cryptocurrency quickly and conveniently, without having to go through complicated conversions or additional steps.
The official launch of the cards is expected in the coming weeks. At the same time, Kraken users can already sign up for the waitlist to be the first to get access to the next-generation debit cards.
This is not the only step Kraken is taking to expand its financial products. Earlier in March, Bloomberg sources reported the exchange's intention to go public and become a public company in the first quarter of 2026. This step is being considered against the backdrop of changes in the regulation of the crypto market in the United States, which opens up new opportunities for the legalization and scaling of crypto companies.
In addition, on March 20, Kraken announced a major deal: the exchange acquired the NinjaTrader platform, which specializes in futures trading, for $1.5 billion. This acquisition, according to analysts, will allow Kraken to strengthen its position in the derivatives market and offer a wider range of services to institutional investors.
Thus, the partnership with Mastercard and the launch of crypto debit cards become part of Kraken’s broader strategy to expand its products and increase its influence in the international crypto market.
