Cryptocurrency exchange Kraken has announced a partnership with Mastercard to launch physical debit cards that will allow users to spend cryptocurrencies and stablecoins directly. The new product will become available in the United Kingdom and European uniоn countries in the coming weeks — customers can currently join the waitlist.

The initiative is part of Kraken’s broader strategy to expand its payment services amid obtaining licenses under the European MiCA regulatory framework.

Kraken noted that the card will enable users to pay for goods and services directly from their crypto balances, without the need for prior conversion. The launch of the debit card builds on the success of Kraken Pay, the exchange’s new payment service introduced in January 2025.

Kraken Pay already allows transfers in over 300 cryptocurrencies to various countries around the world, and includes a paylink feature — sending funds via a simple URL. Over 200,000 users have activated Kraktag — a unique identifier that enables receiving payments without revealing banking details.

“Cryptocurrency is transforming the payments industry. We see a future where global trade and everyday purchases are powered by crypto assets,” said Kraken co-founder David Ripley.