OpenPayd has announced its partnership with Kraken in order to launch instant fiat movement to UK and European users.
Following this announcement, the collaboration will launch instant, global fiat payment capabilities, aiming to accelerate real-time money movement for the digital asset economy.
In addition, by incorporating OpenPayd’s improved payment infrastructure, Kraken will have the possibility to extend its ability to issue named virtual IBANs across a range of currencies, enabling instant fiat movement for its rapidly expanding global user base. OpenPayd’s platform will also allow the programmable movement of fiat both domestically and across borders, with fully automated reconciliation in order to develop new efficiencies for Kraken’s operations. This will take place while delivering a faster and safer experience for both retail and institutional clients.
More information on the OpenPayd x Kraken partnership
According to the official press release, Kraken will continue to develop institutional money movement by tapping into OpenPayd’s platform, deep expertise in digital assets, and broad global licensing coverage. At the same time, with access to OpenPayd’s infrastructure and network of crypto native businesses, Kraken will have the possibility to extend its ability to move funds in and out of the digital asset ecosystem instantly, securely, and at scale.
Furthermore, OpenPayd’s platform was developed in order to serve the demands of high-growth digital asset companies by providing API-first access to domestic and cross-border payment rails, FX, and account infrastructure across the UK, Europe, and other regions around the world. The partnership will reinforce the shared commitment to developing a robust banking and payments infrastructure that empowers clients to invest in all asset classes, eliminate friction, and expand access across borders.
Both companies will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
