OpenPayd and Kraken have joined forces to introduce instant fiat payments to UK and European users.

This collaboration is aimed at enhancing real-time money movement for the digital asset economy, offering faster and more secure transactions.

By integrating OpenPayd’s enhanced payment infrastructure, Kraken plans to expand its ability to issue named virtual IBANs across various currencies. This will enable instant fiat transfers for its growing global user base. OpenPayd’s platform will facilitate the automatic transfer of fiat within and between borders, streamlining operations for Kraken.

Details on the OpenPayd-Kraken partnership

Kraken intends to leverage OpenPayd’s technology and global licensing capabilities to strengthen its institutional payment services. At the same time, it will benefit from OpenPayd’s crypto-focused businesses network for seamless transfers into and out of the digital asset ecosystem.

OpenPayd was created to meet the needs of high-growth digital asset firms by providing API-driven access to local and cross-border payment channels, foreign exchange services, and account management tools in regions like the UK, Europe, and beyond. This partnership underscores both companies’ commitment to building a robust financial infrastructure that supports diverse investment opportunities while maintaining compliance with regulatory standards.

Both OpenPayd and Kraken will continue to focus on evolving market requirements and user preferences, ensuring they meet the demands of retail and institutional clients effectively.