Kraken has reached a significant milestone in its European expansion by obtaining a MiFID license, enabling it to offer derivatives and advanced services across the EU.
Significance of MiFID License for Kraken
Kraken recently announced that it has secured a MiFID license, marking a key part of its expansion strategy. This license will allow the company to offer fully compliant derivative products to advanced crypto traders across selected EU markets. Shannon Kurtas, Kraken Co-GM of Pro & Exchange, highlighted that the European market remains a top priority for the company and this acquisition underscores its confidence in the region.
Europe Prepares for Crypto Growth with MiCA Regulations
There has been increasing interest in cryptocurrencies and digital assets in Europe recently. It is expected that activity in this area could soar by 15% by 2030. To manage this anticipated growth, regulatory measures have been introduced, including the MiCA framework, which ensures investor protection and stablecoin regulation.
What's Next for Kraken?
As Kraken enters the competitive EU derivatives market, it will face competition from major platforms such as Bitstamp and Coinbase. Europe represents one of the company's key growth markets. Additionally, Kraken recently reintroduced its staking program, highlighting its ambitions and intentions to strengthen its position.
Securing the MiFID license underscores Kraken's commitment to strengthening its presence in Europe and provides new opportunities for growth in alignment with regulatory changes in the crypto industry.
