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U.S. Crypto Exchange Kraken Continues Its Expansion In Europe With Two New Regulatory Licenses

Kraken is not one of the noisy crypto exchanges like Binance or Coinbase. But for sure, the U.S. crypto exchange is one of the pioneers of the crypto sector and has so far stood out positively for not being a part of any hype and thus not being a part of any of the collapsed crypto schemes. In Europe, Kraken has secured regulatory licenses in Ireland and Spain to continue its expansion.
Kraken secures regulatory licenses in Europa

In a notable development for the crypto sector, Kraken, a leading name in the crypto world, has unveiled two significant regulatory accomplishments in Europe. Originating from the U.S., the crypto exchange Kraken has now secured authorization from the Central Bank of Ireland, being recognized as an E-Money Institution (EMI). This achievement is further enhanced by its successful registration with Spain’s central bank as a Virtual Asset Service Provider (VASP).

Kraken's European Ambitions

With the EMI license in its arsenal, Kraken’s subsidiary based in Ireland is set to amplify its EUR fiat offerings, joining forces with key European banking entities. This strategic move is designed to serve clients throughout the 27 EU nations and the broader European Economic Area (EEA), marking Europe as a crucial expansion territory for Kraken.

Furthermore, in Spain, the VASP registration equips Kraken with the capability to roll out cryptocurrency exchange and custodial services to the Spanish market. This development aligns with its recent VASP achievements in both Ireland and Italy, nderlining Kraken‘s dedication to its European expansion and adherence to regulatory norms.

Curtis Ting, who holds the position of Vice President of Global Operations at Kraken, commented, “Europe’s progressive regulatory landscape lays a robust groundwork for the crypto realm. Our enthusiasm is geared towards merging with the vibrant fintech ecosystems of Ireland and Spain, and our vision encompasses broader European investments.”

Over the past ten years, Kraken has carved a niche for itself, being synonymous with exceptional security and client-centric services. The platform’s innovative streak continues, with recent launches like its NFT marketplace, the advanced Kraken Pro trading interface, and a refreshed user experience for its web platform.

A Glimpse into Kraken

Established in 2011, Kraken stands tall as a trailblazer in the crypto domain, catering to a vast client base of over 10 million globally. In a testament to its commitment to fostering a vibrant work culture, Kraken clinched a position in Newsweek’s Global Top 100 list in 2023.

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