Kraken Secures EU License for Crypto Services Across 30 Member States

Kraken, a prominent global crypto platform, has achieved a significant milestone by securing a license under the European Union’s Markets in Crypto-Assets Regulation (MiCA) from the Central Bank of Ireland (CBI). This development marks a crucial step in Kraken's European expansion strategy, enabling the company to scale its operations more rapidly across the region. With this license, Kraken can now offer regulated services and engage directly with clients in all 30 member states of the European Economic Area (EEA).

Arjun Sethi, co-CEO of Kraken, emphasized the importance of this achievement, stating that securing a license from the CBI is not just about compliance but also a testament to Kraken's commitment to expanding the crypto ecosystem through responsible innovation. He highlighted that being the first major global crypto platform to receive authorization from the CBI affirms Kraken's dedication to long-term growth and building trust within the crypto community. The license reflects Kraken's efforts to meet the CBI's rigorous regulatory standards, positioning the company to expand its product offerings and grow its client base, both institutional and retail, across the EU.

Kraken has long been a leader in euro-denominated crypto trading, having introduced the first BTC/EUR trading pair in 2013. The platform is renowned for its liquidity and trustworthiness in euro trading, reflecting its deep roots in the region. With the MiCA license now in place, alongside existing MiFID and EMI licenses, Kraken can extend its regulated offerings to millions of clients across the EU. These licenses support significant growth opportunities across various client segments, including spot trading, derivatives, and payments.

For clients, the MiCA license provides added assurance that Kraken's services adhere to a consistent, EU-wide set of regulatory standards. These standards include stronger consumer protections, increased transparency, and robust oversight, formalizing the high standards that Kraken has long upheld and reinforcing long-term trust in the market. Kraken expressed gratitude to the Central Bank of Ireland for its professionalism and to the Irish Government and IDA for their consistent support, noting that this collaboration serves as a blueprint for how public and private sectors can work together to build a more secure and innovative financial future for Europe.