Leading U.S. crypto exchange Kraken recently secured fresh regulatory approvals to grow its presence across Europe.
Kraken received an E-Money Institution (EMI) license from the Central Bank of Ireland. This enables its Irish subsidiary to boost Euro fiat services in partnership with European banks. Kraken can now tap into all 27 EU member states thanks to passport rights under the EMI license.
Kraken secures VASP in Spain
Additionally, Kraken is registered as a Virtual Asset Service Provider (VASP) in Spain. This allows the exchange to offer cryptocurrency trading and custodial services to Spanish citizens, supplementing recent VASP registrations in Ireland and Italy.
Curtis Ting, Kraken’s Vice President of Global Operations, said, “Today’s announcement marks another important milestone in our European expansion strategy.” “Our market-leading position in liquidity and volume for EUR crypto pairs, round-the-clock live client service, and robust security brings a compelling value proposition for future clients in Europe.
The new authorizations demonstrate the exchange’s commitment to compliance as it continues expanding internationally. Even though the exchange’s root is set in the US, the exchange sees Europe as essential to its global strategy. This is due to the region’s high crypto adoption.