Kraken secures UK EMI license, expanding crypto services for British users

Kraken obtained an electronic money establishment license from the Authority Conduct Authority of the United Kingdom.

THE approval Allows Kraken to issue electronic money and facilitate faster deposits and withdrawals for British customers.

With this authorization, the exchange can establish partnerships with traditional financial institutions and introduce new products adapted to British users. Bivu Das, director general of the United Kingdom of Kraken, said that the exchange was preparing to meet the growing demand for financial services based on cryptography in the country.

“The United Kingdom is on the verge of the adoption of mass cryptography, and Kraken is about to show the way with advanced products,” said Das.

12% of British adults hold crypto

Kraken’s regulatory approval comes as the United Kingdom sees growing interest in cryptocurrency investments.

According to FCA researchMore than seven million adults in the United Kingdom – approximately 12% of the adult population – now their own cryptographic assets. The exchange has also experienced an increase in trading volumes released by the GBP, strengthening the United Kingdom as one of its most active markets in the world.

The EMI license follows Kraken recent approval As part of the EU Mifid framework, which allows it to offer regulated derivatives to European traders. By obtaining compliance with the United Kingdom regulators and the EU, Kraken positions himself as a key player in the integration of crypto into traditional finance.

Kraken has been active in the United Kingdom since 2014, when he became the first major exchange to introduce a BTC / GBP commercial pair. The platform now offers exchanges for more than 300 cryptocurrencies and provides several Fiat onramps for British users.

In addition, Kraken expanded his presence Thanks to partnerships with British sports brands such as Williams Racing F1 and Tottenham Hotspur FC.