Kraken Secures EU MiFID License, Resumes US Staking

Cryptocurrency exchange Kraken has received a Markets in Financial Instruments Directive (MiFID) license in the EU, marking a significant milestone in its expansion ambitions. The license, obtained after Kraken purchased a Cypriot Investment Firm, enables the company to provide regulated derivatives services for professional traders in specified EU regions. This development allows Kraken to improve its European market stance and meet rising demand for protected currency derivatives trading solutions.

Kraken plans to launch its products into local EU markets after meeting all operational prerequisites in the coming months. The company's Co-GM of Pro & Exchange, Shannon Kurtas, expressed strong dedication towards growing its European market operations, emphasizing Kraken's commitment to building a trusted environment for advanced crypto traders and investors.

In addition to its European expansion, Kraken has announced the resumption of its staking service across 39 states in the United States. The updated service allows users to stake various cryptocurrencies, including Ethereum, Polkadot, Solana, and Cardano. This move follows Kraken's compliance with conditions set by the U.S. Securities and Exchange Commission (SEC) during their regulatory agreement, which forced the company to halt operations in February 2023.

Through these recent developments, Kraken demonstrates its commitment to establishing superior security and compliance standards and innovative capabilities. The company targets an advanced trading solution for its expanding customer base in U.S. and European markets.