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Kraken Launches Mastercard Debit Card with Multi-Asset and DeFi Features

Kraken Launches Mastercard Debit Card with Multi-Asset and DeFi Features

Kraken introduces its Mastercard debit card in the UK and EU via the Krak app, enabling real-time multi-asset crypto payments with regulatory compliance under MiCA.

Summary

According to Kraken’s official announcement, its Krak app now supports a Mastercard debit card in the UK and EU for real-time multi-asset crypto payments. The launch complies with the EU’s Markets in Crypto-Assets (MiCA) framework and expands the app’s payment functionality for Kraken users.

Terms & Concepts
  • DeFi: Short for decentralized finance, a blockchain-based financial ecosystem enabling services like lending, borrowing, and yield generation without traditional intermediaries.
  • IBAN: International Bank Account Number, a standardized system for identifying bank accounts across countries, enabling cross-border payments.
  • MiCA: Markets in Crypto-Assets regulation, a European Union framework governing cryptocurrency and digital asset activities.