Kraken, a well-established cryptocurrency platform, has announced that it has received authorization from the Central Bank of Ireland to operate as an E-Money Institution (EMI). This news comes as Kraken continues its commitment to expanding its European business.
The EMI license, granted to Kraken’s subsidiary in Ireland, allows the platform to offer EUR fiat services in partnership with European banks. This means that clients in the 27 European Union member states and the European Economic Area can benefit from Kraken’s services, making Europe a key growth region for the company.
In addition to the authorization in Ireland, Kraken has also registered with the Bank of Spain as a Virtual Asset Service Provider (VASP). This registration allows Kraken to provide cryptocurrency exchange and custodial wallet services to residents of Spain. It follows recent VASP registrations in Ireland and Italy, highlighting the company’s dedication to regulatory compliance and expansion in Europe.
Curtis Ting, Kraken’s Vice President of Global Operations, expressed the company’s excitement about its European expansion strategy. Ting emphasized the favorable regulatory environment in Europe, which enables Kraken to grow confidently. He also expressed gratitude for the Central Bank of Ireland and the Bank of Spain’s supportive approach to regulating industry growth. Kraken is looking forward to becoming part of the vibrant local fintech sectors in both countries and continuing its investments in Europe.
Kraken has built a strong reputation for its robust security measures and excellent client service over the past decade. The company is continuously investing in enhancing and expanding its offerings. In the last year alone, Kraken has launched various new features, including its NFT marketplace, the Kraken Pro advanced trading interface, and a new consumer web user experience.
Since its establishment in 2011, Kraken has been at the forefront of the cryptocurrency industry. It was one of the first platforms to offer spot trading, staking, regulated derivatives, and index services all in one place. With over 10 million individuals, traders, and institutions trusting the platform, Kraken is known for its professional 24/7/365 client support and one of the fastest and most performant trading platforms available.
Traders and investors can monitor and trade Kraken markets via the web or through the Kraken and Kraken Pro iOS and Android apps. With its recent authorizations and registrations, Kraken is well-positioned to continue its growth and services in the European market.
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