Kraken has taken a big step toward its expansion in Europe. The cryptocurrency trading platform acquired a Markets in Financial Instruments Directive (MiFID) license in the European Union with its purchase of a Cypriot Investment Firm, recently approved by the Cyprus Securities and Exchange Commission (CySEC).
With this approval, Kraken can offer regulated derivatives to sophisticated investors in a range of European Union nations. With this, the company moves toward its target of meeting increased demand for secure and compliant trading in the region.
Kraken plans local EU market launch
Kraken plans to launch new derivative products in the coming months. The firm is working to meet the necessary conditions before going live in local EU markets. Shannon Kurtas, Kraken’s Co-GM of Pro & Exchange, emphasized the company’s dedication to the European market.
She stated:
This acquisition reflects our confidence in the EU and underscores our commitment to providing a trusted, regulated environment for advanced crypto traders and investors.
The newly acquired permit will enable access to a range of assets via flexible options for collaterals. Europe is a key region for derivatives trading, and Kraken’s new expansion fortifies its presence in the region.
Kraken has a history of expanding its regulated offerings. In 2019, it acquired the U.K. FCA-regulated U.S.-based crypto futures platform Crypto Facilities. With its acquisition, it became the first U.K.-regulated U.S.-based crypto futures platform
With a strong compliance, security, and innovation orientation, Kraken continues to shape industry standards and is committed to delivering best-in-class trading experiences for its growing base of EU customers.
