OpenPayd has joined forces with Kraken to introduce immediate fiat transactions for UK and European customers.

This partnership is designed to enhance global fiat payment capabilities, focusing on real-time financial transfers within the digital asset sector.

By integrating OpenPayd’s advanced payment infrastructure, Kraken can now offer named virtual IBANs for various currencies. This extension will facilitate instant fiat movements across a broader user base. Additionally, OpenPayd’s platform supports the automatic transfer of fiat both domestically and internationally, ensuring streamlined reconciliation processes to boost operational efficiency for Kraken.

Further Details on the OpenPayd-Kraken Collaboration

Kraken intends to deepen its institutional payment capabilities through OpenPayd’s platform, leveraging both the company’s knowledge in digital assets and expansive global regulatory coverage.

Through access to OpenPayd’s infrastructure and network of crypto-centric businesses, Kraken can now handle instant, secure, and scalable fund transfers within and beyond the digital asset space.

OpenPayd was created to meet the needs of high-growth digital asset firms by providing API-driven access to local and international payment channels, foreign exchange services, and account facilities across multiple regions. The collaboration aims to strengthen their joint commitment towards building a resilient banking and payments framework that empowers clients to invest in diverse assets, reduce barriers, and expand cross-border accessibility.

Both entities will continue to align with the evolving market demands while maintaining strict adherence to industry regulations and compliance standards.