- Kraken secures MiFID license, enabling regulated crypto derivatives for EU traders.
- Kraken strengthens European presence with CySEC-approved acquisition of Cypriot firm.
- Kraken’s European growth continues with EMI and VASP licenses across multiple EU markets.
Crypto exchange Kraken achieved a more assertive European market position by obtaining the Markets in Financial Instruments Directive (MiFID) license. The company received this milestone after acquiring an investment firm from the Cyprus Securities and Exchange Commission (CySEC). The new regulatory permit allows Kraken to provide its advanced trader clients with regulated crypto derivatives trading services in specific European markets.
The MiFID license is an essential advancement for Kraken since it supports the firm’s wider objective of increasing its regulatory power across European markets. During this period of increased interest in advanced European markets, the demand for compliant crypto derivative products continues to grow.
Kraken’s Regulatory Footprint in Europe
By securing this latest license, Kraken adds to its expanding set of licenses operating within European markets. Kraken received its E-Money Institution (EMI) license from the Central Bank of Ireland in 2023, which enabled the company to scale its euro-based fiat services throughout the EU.
The regulatory initiative of Kraken included getting its Virtual Asset Service Provider (VASP) certification from the Bank of Spain before obtaining a second VASP registration from the Dutch Central Bank in early 2024. Kraken aims to provide Europeans with a set of compliant services through these licenses to address their increased need for secure trading options with official regulation.
The company demonstrates its dedication to crypto market security by pursuing continent-wide regulatory approvals while ensuring complete compliance in this fast-growing industry. Due to its fully regulated derivatives trading capabilities, Kraken has established itself as a leading digital asset trading player in the European market. This market growth will serve professional traders who need safe mechanisms to monitor risks through various asset currency combinations on their platforms.
Strategic Focus on European Market Growth
Kraken has prioritized its expansion of European services for many years leading up to the present day. Shannon Kurtas serves as the company’s co-global Market Manager of Pro & Exchange stating that the EU market is a critical priority as Kraken continues its global expansion efforts. The Cyprus-based investment firm acquisition, alongside obtaining the MiFID license as a fundamental component for delivering compliant European crypto trading solutions.
Alongside Kraken the drive for European regulatory compliance continues to attract other crypto exchange companies. Bitpanda has achieved major regulatory milestones by gaining approval from BaFin under the Markets in Crypto-Assets Regulation (MiCAR). The European crypto market attracts more institutional investors requiring strong regulatory measures.
