MasterCard joins Kraken in accelerating crypto democratisation in Europe

The American payment giant Mastercard has formalized its new association with one of the world's most renowned cryptocurrency platforms, Kraken. Their joint work focuses on accelerating the democratisation of crypto payments active in the United Kingdom and more broadly in Europe.

FACTS

• Mastercard, as one of the world's largest payment networks, and Kraken, one of the world's leading cryptocurrency trading platforms, recently announced the signing of their strategic partnership to facilitate access to cryptocurrency services for Mastercard customers.

• Their collaboration will allow users of Mastercard and Kraken services to buy, sell and spend cryptocurrency simply using Mastercard cards, thus simplifying the integration of digital assets into daily transactions.

• This rapprochement represents a new step in simplifying access to cryptocurrency services for consumers, who hold Mastercard cards from the United Kingdom and Europe, since both geographical areas are particularly affected by this new partnership.

• Kraken is committed to presenting first physical and digital debit cards in the near future in order to materialize this partnership. A waiting list is open to allow early users to enjoy the service soon.

ISSUES

• Simplifying the integration of digital assets into daily transactions Kraken states that its new partnership with the Mastercard payment network must allow 15 million users of its services to spend their cryptoactives on more than 150 million merchants accepting Mastercard worldwide.

• Continue its efforts This partnership represents a first direct collaboration signed between Mastercard and Kraken. Nevertheless, Mastercard prepare Long-standing cryptocurrency revolution. The payment giant has indeed mobilised in favour of the development of MNBCs, but has also already relied on partnerships to try to take advantage of the blockchainfacilitate adoption of virtual currencies (in the United Kingdom in particular), allow the purchase of NFT by card with Coinbase or deploy crypto payment cards For example.

PERSPECTIVE

• This new partnership represents an additional step in the democratisation of cryptoactives, a trend now supported both by the specialised players in this sector and by the more traditional actors of payment in the image of Mastercard.

• Many steps have indeed been taken but recently it is also Paypal (which offers its stable home, the PayPal USD (PYUSD)) announced adding Solana (SOL) and Chainlink (LINK) to its list of cryptocurrency available to users in the United States. Users can now buy, sell and retain SOL and LINK via PayPal and Venmo platforms.

• This expansion brings the total number of cryptocurrency offered by PayPal to seven, including already Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH) and PayPal USD (PYUSD) stablecoin.

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