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Payments giant Mastercard recently published a press release stating that it is partnering with crypto exchange Kraken to accelerate the adoption of crypto payments across Europe and the UK. By leveraging Mastercard’s global payment network, Kraken is expanding its range of payment solutions and enabling millions of users to spend their digital assets with over 150 million merchants worldwide. This decision marks a milestone in the European crypto space, showing how the interest in digital assets continues to grow. This partnership helps position cryptocurrency as a legitimate payment option and brings crypto a step closer to mainstream financial infrastructure, making it more relevant, viable, and usable for the average consumer.
In this article, we take a closer look at the increase in crypto adoption across Europe and the UK, the regulatory frameworks that govern crypto use in these regions, and how the recent partnership between Mastercard and Kraken will help crypto payments expand across Europe.
Crypto adoption across Europe and the UK
Crypto adoption across Europe and the UK is gaining momentum. Digital assets are moving beyond investment portfolios and into people’s wallets, boosting convenience and financial freedom for millions of users. In the United Kingdom, the Financial Conduct Authority (FCA) has reported that 12% of UK adults now hold cryptocurrency, which is up from 10% in previous years. Those figures translate to around 7 million people who are engaging in one form or another with digital assets, from Bitcoin to stablecoins. The British population is also more aware than ever of their existence, with 93% of adults now stating they have at least heard of crypto; the first step towards mainstream understanding and acceptance.
Zooming out, figures also show an increase in crypto adoption and awareness on the continent, where momentum is even more palpable. Between July 2023 and June 2024, the region encompassing Central, Northern, and Western Europe received nearly $1 trillion in on-chain crypto value, accounting for 21.7% of the global transaction volume. Countries like Germany and France, as well as the UK, are leaders in terms of crypto integration, not just as an investment, but as a viable payment option for merchant services. In fact, the UK experienced a 58.4% year-over-year increase in crypto-enabled merchant services, with stablecoins accounting for up to 80% of transaction volume in some quarters.
European regulatory frameworks on crypto
The European Union has taken significant steps in recent years to establish a comprehensive regulatory context for crypto assets through the Markets in Crypto Assets Regulation (MiCA), which officially came into force on the 30th of December 2024. MiCA provides a unified legal framework across all 27 EU Member States, and covers aspects such as transparency, disclosure, authorization, and supervision of crypto transactions. This regulation aims to enhance the integrity of the market and protect consumers by ensuring that issuers and service providers operate under consistent standards.
Having left the EU in 2016, the Financial Conduct Authority (FCA) in the UK is still working on its regulatory framework with the aim of aligning crypto firms and operators with traditional financial standards. In November 2024, the FCA set out key dates for the development as part of its Crypto Roadmap, and outlined the publication of all Policy Statements by 2026. In a letter to the FCA in 2024, the UK Chancellor emphasized the importance of growth and the important role the FCA has to play in achieving it, including by enabling responsible risk-taking and support for innovative new firms entering the market.
Crypto payments expand across Europe
Off the back of such strong momentum in crypto adoption across Europe and the UK, major players in both traditional finance and the digital asset space are joining forces to bridge the gap between blockchain tech and everyday payments. In April 2025, Mastercard announced a strategic partnership with popular crypto exchange Kraken to expand crypto payment services across the region.
The collaboration aims to enable millions of users to spend their digital assets seamlessly at more than 150 million Mastercard-accepting merchants worldwide, marking a critical milestone in integrating crypto into mainstream commerce. It’s a tangible step towards normalizing crypto payments in daily life. Building on the swift uptake of Kraken Pay, Kraken plans to launch physical and digital debit cards in the coming weeks. For consumers, this means greater flexibility and convenience and represents a sure-fire sign that crypto is entering into a new phase of real-world legitimacy and utility.
For merchants seeking even more seamless entry into the era of crypto payments without the complexities of holding digital assets, at ForumPay, we offer a robust solution. As a fully licensed and compliant crypto-to-fiat payment gateway operating across the EU, ForumPay enables businesses to accept cryptocurrency payments while receiving settlements in their preferred fiat currency. This approach allows merchants to tap into the growing crypto customer base without exposure to market volatility.
For more on crypto trends or to learn how to integrate crypto payments into your business’ workflow, visit www.forumpay.com, or get in touch with our sales team to discuss any questions you may have.
