Visa Partners with Bitstamp to Enable Seamless Crypto Payments Across the Globe

Mastercard, Kraken Team Up to Promote Crypto Payments in Europe, UK

Mastercard and cryptocurrency exchange Kraken are partnering to promote the adoption of cryptocurrency payments in Europe and the United Kingdom. The collaboration aims to make it easier for merchants to accept cryptocurrencies like Bitcoin and Ethereum, and for consumers to use them for everyday purchases.

The partnership will focus on educating merchants about the benefits of accepting cryptocurrencies, including increased customer engagement and reduced payment friction. Kraken will also provide Mastercard with access to its cryptocurrency exchange and trading platform, allowing for seamless integration of cryptocurrency payments into Mastercard's network.

"We're excited to work with Kraken to bring cryptocurrency payments to the masses," said Raj Dhamdige, executive vice president of digital payments and labs at Mastercard. "Our goal is to make it easy for people to use cryptocurrencies like Bitcoin and Ethereum for everyday purchases, and this partnership is a big step in that direction."

Kraken's CEO, Jesse Powell, added, "We're thrilled to partner with Mastercard to bring cryptocurrency payments to a wider audience. Mastercard's global reach and expertise in payment processing make them the perfect partner for our efforts to mainstream cryptocurrency payments."

The partnership builds on Mastercard's previous efforts to promote cryptocurrency payments, including the launch of its own cryptocurrency, Mastercard Crypto, in 2022. The company has also been working with other cryptocurrency exchanges and payment providers to develop new payment solutions.

The collaboration with Kraken is expected to help drive the adoption of cryptocurrency payments in Europe and the UK, where interest in digital currencies is growing rapidly. According to a recent survey, 22% of Europeans and 15% of Brits have already used cryptocurrencies, and 44% of Europeans and 36% of Brits are interested in using them in the future.

The partnership is expected to be rolled out in the coming months, with a focus on small and medium-sized businesses, as well as larger merchants. Mastercard and Kraken will also be working together to develop new cryptocurrency payment solutions and to educate consumers about the benefits of using cryptocurrencies for everyday purchases.