OpenPayd powers faster fiat payments for Kraken users

By Vriti Gothi

OpenPayd has partnered with Kraken to introduce instant fiat movement for customers across the UK and Europe. This collaboration marks a significant step forward in bridging traditional finance and digital assets, accelerating the availability of seamless, real-time money movement a global scale.

Through the integration of OpenPayd’s advanced infrastructure, Kraken is enhancing its ability to issue named virtual IBANs in multiple currencies, enabling instant fiat transfers for its rapidly growing international user base. The solution provides API-first access to domestic and cross-border payment rails, foreign exchange services, and account infrastructure, all underpinned by fully automated reconciliation processes. These capabilities are designed to eliminate inefficiencies, strengthen operational resilience, and deliver faster, more intuitive experiences for both retail and institutional clients.

By leveraging OpenPayd’s always-on platform and extensive global licensing coverage, Kraken is reinforcing its leadership in digital asset financial services. The partnership also connects Kraken to a network of more than 250 crypto-native businesses worldwide, giving clients the ability to move funds securely and instantly in and out of the digital asset economy. This alignment of technology, regulatory expertise, and scale is central to Kraken’s mission of expanding financial access across borders and asset classes.

Iana Dimitrova, CEO at OpenPayd, said, “We’re thrilled to support Kraken in powering instant fiat capabilities across global markets. 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.”

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

With OpenPayd as a core component of its payments operations, Kraken continues to enhance the resilience and efficiency of its trading ecosystem, ensuring its global client base benefits from an always-on, high-performance experience in today’s fast-evolving financial landscape.