Kraken chooses Ivy for instant payments in Europe

Kraken, one of the longest-standing and most reliable cryptocurrency platforms in the world, has announced a new and strategic partnership with Ivy, a fintech company specialized in instant payment solutions.

The announcement was made during the event “Breaking the News” at Money20/20, one of the most important global events in the financial and technological sector.

This collaboration marks a decisive step for the cryptocurrency sector in Europe, aiming to make real-time bank payments a standard for users and companies operating with digital assets.

Instant bank payments: the new frontier for Kraken

With over 15 million customers worldwide, Kraken has chosen Ivy to offer a new payment experience to its European users. 

Thanks to the integration of Ivy’s platform, users will be able to make instant deposits and immediate spot purchases via real-time bank transfers.

According to Kaushik Sthankiya, Global Head of Banking & Payments at Kraken, “for cryptocurrencies to reach their full potential, real-time bank deposits and withdrawals must become the norm.” 

Kraken firmly believes that cryptocurrencies can redefine financial services and the way people interact with money. Ivy’s choice reflects the company’s commitment to collaborating with innovative partners to make transactions smoother, more intuitive, and immediate.

Founded with the goal of moving money at the speed of the internet, Ivy quickly established itself as one of the key players in the digital payments sector. 

Its infrastructure is natively compatible with cryptocurrencies, offering crypto accounts, real-time deposits and withdrawals, and settlements in stablecoin.

Based in Munich and with offices in Berlin, London, and Helsinki, Ivy has raised 30 million dollars in funding from leading investors such as Peter Thiel’s Valar Ventures and Creandum. 

Its technology allows for the elimination of the use of cards, digital wallets, and banking intermediaries, reducing costs and increasing the speed of transactions.

The collaboration with Ivy will allow Kraken to integrate a complete suite of products to optimize payment flows:

– Instant bank payments via SEPA Instant

– Collection accounts with local IBANs to simplify reconciliation and regulatory compliance

These solutions are designed to meet the specific needs of crypto operators, ensuring speed, security, and compliance.

MiCAR and the regulated future of cryptocurrencies in Europe

The entry into force of the MiCAR (Markets in Crypto-Assets Regulation) is transforming the European regulatory landscape. 

In this context, the choice of Ivy – which operates as a authorized Payment Institution in Europe – represents a strategic move for Kraken, which aims to consolidate and protect its presence in the European market.

Regulatory compliance is becoming increasingly central for crypto platforms, and Ivy offers a solution that combines technological innovation and adherence to regulatory requirements.

According to the data from crypto.com, in 2024 the number of global cryptocurrency users reached 659 million. This exponential growth highlights the need for faster, more reliable, and scalable payment infrastructures.

Ferdinand Dabitz, CEO and co-founder of Ivy, stated: “Companies like Kraken are already global and instantaneous by definition – payments and banking services must be as well. Together, we are setting a new standard for crypto-native payments in Europe.”

Ivy presents itself as a global and instant payment platform by default. 

Its technology allows companies to send and receive real-time banking transactions internationally, making local instant payment systems interoperable in over 60 regions worldwide.

Eliminating the need for cards and correspondent banks, Ivy drastically reduces transaction costs and accelerates settlement times, offering a competitive advantage to companies operating in the digital and cryptocurrency sector.

A pioneering platform in the crypto world

Founded in 2011, Kraken is one of the longest-standing and most respected crypto platforms in the world. It offers its clients the opportunity to trade over 300 digital assets and six fiat currencies (including EUR, USD, GBP, CAD, CHF, and AUD). 

Kraken was among the first to introduce services such as margin spot trading, staking, regulated derivatives, and parachain auctions.

With an active customer support 24/7, Kraken stands out for its transparency and for the adoption of Proof of Reserves, a system that ensures the security of users’ funds.

The partnership between Kraken and Ivy represents much more than a simple technological integration: it is a strong signal towards a future where instant payments, transparency, and compliance will be the pillars of the digital economy.

In an era in which the speed and reliability of transactions are fundamental, this alliance lays the foundations for a more efficient, accessible, and regulated crypto ecosystem. 

With Ivy by its side, Kraken is preparing to lead the next phase of cryptocurrency adoption in Europe.