Kraken wins EU license to expand derivative services

Kraken’s European expansion has accelerated while the Crypto Exchange has obtained a new digital asset license to offer more services.

Kraken has guaranteed A license of market directive in financial instruments through its regulated entity in Cyprus, a Cypriot investment company, allowing the exchange to provide derivative products within the European Union.

The Cyprus securities committee regulates the Cypriot investment company, making the acquisition a strategic decision for Kraken to strengthen its European presence.

The company has prioritized MIFID approval due to a high demand for cryptocurrency derivatives of participants in the European market, said Shannon Kurtas, co-responsible for Kraken of Pro & Exchange. “While we continue to expand our services around the world, our concentration on the European market remains an absolute priority,” said Kurtas in a press release announcing the license.

The acquisition of a Cypriot investment company to access a MIFID license adds to the growing Kraken list of European regulatory approvals. Crypto exchange too guaranteed A crypto broker license in the Netherlands via the Dutch broker Coin Meester, as well as several partnerships With German blockchain customers to list the services.

While the United States has ordered a large part of the projectors of global cryptography, in particular after the return of President Donald Trump, Europe also aroused institutional interest as the demand for digital asset services increases . The introduction by the European Union of Markets into the regulation of cryptographic assets has standardized the regulation of cryptocurrencies in the region, encouraging compliance among market players.

However, some large companies have struggled to meet the requirements of Mica, leading to potential market outings. Kraken, Coinbase and Crypto.com decided To set up 140 billion dollars of $ 140 billion in stablecoin of US dollars (USDT) due to the requirements of Mica.