On 3 June 2025, Kraken, one of the world's longest-running and most trusted cryptocurrency platforms, announced a partnership with Ivy, a fintech company specialising in instant banking solutions. The announcement was made during Money20/20, one of the fintech industry's leading international forums.
New payment options for users
Thanks to the integration with the Ivy platform, Kraken's European users will be able to make instant bank deposits and spot cryptocurrency purchases via SEPA Instant, the eurozone's real-time banking system. While traditional payment methods take hours or days, the new system allows near-instant withdrawals and deposits.
Kaushik Sthankiya, head of banking at Kraken, said that for cryptocurrencies to reach their full potential, banking services also need to be as fast as digital assets.
Why Ivy?
Ivy presents itself as a platform that is 'global and instantaneous by nature'. Its infrastructure is crypto-friendly, allowing users to open crypto accounts, make payments and trade stablecoins. It is accessible in over 60 regions worldwide, and supports transfers to local instant payment schemes without the use of cards, wallets or banking intermediaries. This reduces fees and speeds up settlement times.
With headquarters in Munich and offices in Berlin, London and Helsinki, Ivy has raised USD 30 million from leading venture capital funds, including Peter Thiel's Valar Ventures and Creandum.
Regulatory context: MiCAR
The partnership comes amid an evolving European regulatory environment, with the entry into force of the MiCAR regulation, which sets clear standards for transactions with crypto assets. Ivy's status as an official payment institution enables Kraken to strengthen regulatory and technological resilience in the region.
Thanks to local aggregated accounts with dedicated IBANs, reporting and compliance are simplified. This is a key advantage for the company, which aims for sustainable growth despite increased regulatory pressures.
Currently, Kraken serves more than 15 million customers worldwide and offers more than 300 digital assets and six fiat currencies, including euro, dollar and pound. The introduction of instant deposits and withdrawals via SEPA Instant makes the platform more convenient and attractive, especially for European users.
A new phase for the crypto sector
This collaboration demonstrates how the crypto ecosystem is trying to bridge the gap between traditional banking systems and the digital economy. It is also a message to other exchanges: innovation and compliance must go hand in hand. Ivy's proposed new payment solution could become a model for future integrations between the crypto industry and large financial institutions.
Future Perspectives: stablecoin-and-real-regulations
Starting in July 2025, Ivy plans to go beyond bank transfers by expanding support for USDC and EURC stablecoins to enable instant conversions from fiat to stablecoin. This will allow Kraken and other customers to quickly convert euros or dollars into digital stablecoins, eliminating traditional delays.
Kraken's choice of Ivy is not just a technology integration, but a strategic step towards creating a faster, more transparent and regulated European crypto space. The new payment system brings usability, reduced latency and strong compliance with EU regulations to the fore.
In the end, it could mark a turning point for the large-scale adoption of digital assets in European financial services.
