Kraken Chooses Ivy for Real-Time Bank Transactions

Major cryptocurrency exchange Kraken has selected Berlin-based payment platform Ivy as its new instant payment provider across Europe, bringing real-time banking capabilities to over 15 million users worldwide.

The partnership, announced at Money20/20, enables Kraken customers to make instant deposits and spot purchases through direct bank payments. According to information from Ivy's LinkedIn announcement, the collaboration addresses a critical need in the crypto industry for seamless fiat-to-crypto transactions.

"For crypto to reach its full potential, real-time banking deposits and withdrawals need to be table stakes," said Kaushik Sthankiya, Global Head of Banking & Payments at Kraken. The exchange, known for being one of the longest-standing and most liquid crypto platforms, chose Ivy's enterprise-grade infrastructure to power faster settlements and lower costs.

The integration offers several key features: SEPA Instant payments, Collection Accounts with local IBANs, real-time deposits and withdrawals, and stablecoin settlements. This comprehensive solution eliminates traditional banking delays that have long frustrated crypto traders.

Ferdinand Dabitz, CEO and Co-Founder of Ivy, emphasized their mission to "make money move at internet speed." The German FinTech, founded in 2021, operates a global API for real-time account-to-account payments across over 60 regions, potentially reducing transaction costs by up to 10 times compared to traditional methods.

The timing aligns with Europe's new MiCAR regulation, which tightens compliance requirements for crypto businesses. Ivy's status as a European-licensed payment institution provides the regulatory foundation needed for this ambitious partnership.

With offices in Berlin, Munich, London, and Helsinki, Ivy is positioning itself as a bridge between traditional banking and the crypto ecosystem, setting new standards for digital asset payments across Europe.