Kraken unveils Krak Mastercard debit app in UK and EU for multi-asset payments
Krak’s new debit app blends real-time digital asset spending with traditional payment features, signaling Kraken’s banking ambitions in Europe.
Key Takeaways
- Kraken has launched the Krak Mastercard debit app in the UK and EU, allowing users to make real-time payments with multiple cryptocurrencies.
- The app supports salary deposits via IBAN, positioning itself as an alternative to traditional banking.
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Kraken, a cryptocurrency exchange, today unveiled its Krak Mastercard debit app in the UK and EU, enabling users to make real-time payments using multiple crypto assets.
The new app allows customers to spend various digital assets instantly while offering salary deposits through IBAN functionality. The launch represents Kraken’s push to position itself as a comprehensive alternative to traditional banking services.
Kraken provides trading, custody, and regulated services across Europe with access to numerous digital assets and local funding options. The exchange has been upgrading its Krak platform with features including cashback rewards and high-yield vaults.
Mastercard enables the debit card technology that allows users to spend cryptocurrencies and other assets through its global payment network. The partnership facilitates instant conversion of crypto holdings for everyday purchases.
The app launch follows Kraken’s broader European expansion of custody services as part of its regulated crypto operations across the region.
