OpenPayd Teams Up with Kraken to Enable Instant Fiat Transfers for UK and EU Clients

OpenPayd, a leading financial infrastructure provider, has announced a strategic collaboration with Kraken, the crypto-first technology platform committed to improving access and efficiency in the financial system. The partnership introduces real-time, global fiat payment capabilities aimed at accelerating the pace of money movement within the digital asset sector.

With this integration, Kraken will leverage OpenPayd’s robust payment infrastructure to expand its support for named virtual IBANs across multiple currencies. This development will allow Kraken to offer near-instant fiat transactions for its growing international user community.

OpenPayd’s platform facilitates programmable fiat flows, both domestically and internationally, with seamless, automated reconciliation processes. This integration brings enhanced operational efficiency to Kraken’s backend systems, while offering retail and institutional clients a significantly faster and more streamlined payment experience.

Kraken is transforming institutional money movement by tapping into OpenPayd’s powerful platform, deep expertise in digital assets and broad global licensing coverage. With access to OpenPayd’s always-on infrastructure and a network of more than 250 crypto native businesses, Kraken extends its ability to seamlessly move funds in and out of the digital asset ecosystem instantly, securely and at scale.

OpenPayd’s platform has been purpose-built 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 beyond.

“We’re thrilled to support Kraken in powering instant fiat capabilities across global markets,” added Iana Dimitrova, CEO at OpenPayd. “This partnership reinforces our role as the financial infrastructure backbone for digital asset businesses, and highlights how OpenPayd’s regulated infrastructure is enabling the next generation of crypto platforms to move money at speed and scale.”

“At Kraken, delivering seamless and reliable fiat on-off ramp experiences are fundamental to unlocking the next wave of global cryptocurrency adoption,” said Kaushik Sthankiya, Global Head of Banking and Payments at Kraken. “As we accelerate our growth and expansion, we are committed to building robust banking and payments infrastructure that empowers our clients to invest in all asset classes, eliminate friction, expand access across borders. Partnering with OpenPayd underscores this commitment to operational excellence, scalability and allows us to harness cutting-edge technology and domain expertise – strengthening Kraken’s leadership position in the evolution of finance.”

With OpenPayd as a core part of its payments operation, Kraken is serving its global client base with a high calibre, always on trading experience.