Kraken secures EU e-money licence

Kraken, one of the world's longest-standing and most secure crypto platforms, today announced it has received authorization from the Central Bank of Ireland as an E-Money Institution (EMI).

In addition, Kraken has also successfully registered with the Bank of Spain as a Virtual Asset Service Provider (VASP). These authorizations highlight Kraken’s ongoing commitment to growing its European business.

The EMI license, granted to Kraken’s subsidiary in Ireland, enables Kraken to expand its EUR fiat services in partnership with European banks. This extends to clients in the 27 European Union (EU) member states and European Economic Area (EEA) countries - a key growth region for the company.

In Spain, Kraken’s new VASP registration allows it to offer cryptocurrency exchange and custodial wallet services to Spanish residents. It follows recent VASP registrations in Ireland and Italy. These licenses are a testament to Kraken’s ongoing commitment to regulatory compliance and European expansion.

“Today’s announcement marks another important milestone in our European expansion strategy,” said Curtis Ting, Kraken’s Vice President of Global Operations. “We see a firm foundation for crypto in Europe, which has forward-looking regulation that enables us to grow with confidence. We are grateful for the constructive approach to regulating industry growth set by the Central Bank of Ireland and the Bank of Spain. In both Ireland and Spain, we are excited to become part of their vibrant local fintech sectors. We also look forward to continuing our investments in Europe more broadly.”

Kraken has built a track record for robust security and excellent client service that spans more than a decade. The company is continuously investing in the enhancement and expansion of its offering. In the last year Kraken has launched its NFT marketplace, the Kraken Pro advanced trading interface, and a new consumer web user experience.

Ting added, “Our market-leading position in liquidity and volume for EUR crypto pairs, round-the-clock live client service and robust security bring a compelling value proposition for future clients in Europe. We’re committed to the ongoing investment in our European business as we continue our efforts to advance the adoption of crypto within Europe in the years ahead.”

By on Tue, 26 Sep 2023 15:48:00 GMT
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