Kraken Secures MiCA License for EU Expansion

Crypto exchange Kraken has secured regulatory approval under the EU’s Markets in Crypto-Assets (MiCA) framework, paving the way for broader expansion across the European Economic Area. Kraken received its MiCA license from the Central Bank of Ireland, allowing the platform to offer regulated services in all 30 EEA member states. This license builds on Kraken’s previous approvals under the Markets in Financial Instruments Directive (MiFID), granted in February, and an Electronic Money Institution (EMI) license obtained in 2023.

Kraken co-CEO Arjun Sethi emphasized the significance of this achievement, stating, “We believe trust is the most valuable currency in crypto, and it’s something you earn. Over the past several years, our team has worked tirelessly to meet the Central Bank of Ireland’s gold standard regulatory expectations.” This milestone positions Kraken as a leader in the crypto industry, aligning with the EU’s landmark crypto framework.

Kraken joins a growing list of exchanges, including Coinbase, OKX, Crypto.com, and Bybit, that have disclosed MiCA-related licenses this year. MiCA, which began taking effect in 2024, aims to harmonize digital asset rules across the bloc. However, not all players are on board; Tether, issuer of the USDT stablecoin, has opted out of MiCA registration, prompting some exchanges to delist the token in response.

Kraken’s move in Europe follows a broader shift in strategy. Last week, the firm relocated its global headquarters to Wyoming, citing the state’s crypto-friendly regulatory stance. While the US continues to debate a federal framework for digital assets, including stablecoin rules and market structure proposals, Kraken’s licensing in Ireland gives it a firm foothold in a region already moving forward.

Earlier this month, Kraken rolled out a new prime brokerage platform, targeting institutional clients with a full suite of services including trading, custody, and financing—all on a single interface. Dubbed Kraken Prime, the offering is set to compete with other platforms by providing access to deep liquidity, 24/7 support, and direct trade execution from qualified custody accounts held by Kraken Financial, a U.S.-chartered bank.

Kraken’s licensing under MiCA is a significant step in its European expansion strategy. The exchange already holds Virtual Asset Service Provider (VASP) registrations in several key European markets, including Ireland, Belgium, France, Italy, the Netherlands, Poland, and Spain. This new license reinforces Kraken’s long-term commitment to providing secure, accessible, and fully regulated crypto services to millions of users across the EU.

The license opens up opportunities in various areas, including spot trading, derivatives, and payments. Sethi highlighted that trust is the most valuable currency in crypto, and Kraken has earned this trust through years of meeting the Central Bank of Ireland’s regulatory expectations. This achievement places Kraken in a strong position to expand its product offerings and grow its institutional and retail client base.

Kraken expressed gratitude to the Central Bank of Ireland for its professionalism and to the Irish Government and IDA for their consistent support. 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. Kraken is proud to be leading the way in this endeavor, setting a precedent for other crypto exchanges looking to expand their services in the region.