Cryptocurrency exchange Kraken has announced the acquisition of a MiCA license from the Central Bank of Ireland, allowing it to expand its services across the European Economic Area.
Acquisition of MiCA License
The MiCA license was announced in a June 25 blog post from Kraken. It allows the exchange to use its regulated services across all 30 EEA countries.
Expansion of Kraken Services
With this authorization, Kraken can offer a broader range of fully regulated products, including trading, derivatives, and payment solutions. This expansion complements its existing Virtual Asset Service Provider (VASP) registrations in key European countries such as France, Italy, Spain, and the Netherlands.
Comparison with Competitors
Kraken joins other cryptocurrency exchanges, including Coinbase, Bitstamp, and Crypto.com, which have also received similar licenses in jurisdictions such as Luxembourg and Malta. Additionally, in March, the exchange obtained an electronic money institution license from the UK’s Financial Conduct Authority.
The acquisition of the MiCA license strengthens Kraken's position in the European cryptocurrency market, highlighting its commitment to meet regulatory standards and expand its services.
