In a significant stride for the crypto industry, Kraken, a globally recognized crypto platform, has announced two major regulatory achievements in Europe. The U.S. crypto exchange Kraken has successfully obtained authorization from the Central Bank of Ireland as an E-Money Institution (EMI). This is complemented by its registration with the Bank of Spain as a Virtual Asset Service Provider (VASP).
The European Expansion
The EMI license, awarded to Kraken‘s Irish subsidiary, paves the way for the platform to bolster its EUR fiat services in collaboration with European banking institutions. This expansion will cater to clients across the 27 EU member states and the European Economic Area (EEA) countries, emphasizing Europe as a pivotal growth arena for Kraken.
In Spain, the VASP registration empowers Kraken to provide cryptocurrency exchange services and custodial wallet solutions to the Spanish populace. This follows in the footsteps of its recent VASP registrations in Ireland and Italy, reinforcing Kraken’s commitment to European growth and regulatory compliance.
Curtis Ting, Kraken’s Vice President of Global Operations, remarked, “The forward-thinking regulatory framework in Europe provides a solid foundation for the crypto industry. We’re enthusiastic about integrating into the dynamic fintech sectors of both Ireland and Spain, and we remain committed to further investments across Europe.“
Having established a reputation for top-tier security and client service over the past decade, Kraken continues to innovate. Recent additions to its offerings include the launch of an NFT marketplace, the Kraken Pro advanced trading interface, and a revamped consumer web user experience.
Ting further highlighted Kraken’s value proposition for European clients, emphasizing its market dominance in EUR crypto pairs, unparalleled client service, and robust security measures. He added, “Our focus remains on fostering crypto adoption across Europe, and these regulatory milestones are pivotal in that journey.”
Founded in 2011, Kraken is one of the pioneering and most secure crypto platforms globally, serving over 10 million clients worldwide. In 2023, Kraken earned a spot on Newsweek’s Global Top 100 list, highlighting its commitment to providing exceptional employment opportunities.
Stay tuned to FinTelegram for more in-depth coverage on the international crypto scene and its ever-evolving regulatory landscape.