Kraken Obtains MiCA License from the Central Bank of Ireland, Solidifying Its Position in European Crypto Markets
Kraken Obtains MiCA Licence From Central Bank Of Ireland, Strengthening Its Position In European Crypto Markets
Kraken, a cryptocurrency technology platform, has announced the acquisition of a license under the European Union’s Markets in Crypto-Assets Regulation (MiCA) from the Central Bank of Ireland. This license represents a crucial step in Kraken’s expansion within Europe, allowing the company to grow more swiftly by providing regulated services and engaging directly with clients throughout the entire European Economic Area.
Over the past few years, Kraken has been establishing a regulatory and operational framework aimed at global scalability, positioning the company to swiftly take advantage of emerging regulatory opportunities worldwide. MiCA enhances this framework, facilitating unified passporting and pan-European service delivery, which significantly broadens Kraken’s market presence.
“Obtaining a license from the Central Bank of Ireland, known for its rigorous financial regulatory practices, signifies more than mere compliance. It showcases Kraken’s dedication to enhancing the crypto ecosystem through responsible innovation,” stated Arjun Sethi, co-CEO of Kraken.
“As the first major global crypto platform to receive authorization from the CBI, this achievement underscores Kraken’s commitment to sustainable growth. We recognize that trust is the most precious asset in crypto, and it must be earned. Our team has diligently worked to meet the CBI’s exceptional regulatory standards over the past few years. This license is a testament to that dedication, positioning us well to broaden our product range, expand our institutional and retail client base, and deliver secure, accessible, and fully regulated crypto services to millions more individuals across the EU.
“We extend our sincere gratitude to the Central Bank of Ireland for its professionalism, as well as to the Irish Government and IDA for their unwavering support. This partnership serves as a model for collaborative efforts between public and private sectors to create a more secure and innovative financial future in Europe, and we are honored to be at the forefront.”
Building on a Robust Foundation
Kraken currently possesses Virtual Asset Service Provider (VASP) registrations in essential European markets such as Ireland, Belgium, France, Italy, the Netherlands, Poland, and Spain. The company has been a leading player in euro-denominated crypto trading, launching the first BTC/EUR trading pair back in 2013. Today, Kraken’s platform stands as the most liquid and trustworthy for euro trading, highlighting its deep-seated presence in the region.
The euro now represents 17.5% of the global fiat spot crypto trading volume, more than doubling compared to the previous year—demonstrating the rising importance of European markets.
With the MiCA license now secured, in addition to the already obtained MiFID and EMI licenses, Kraken is positioned to extend its regulated offerings to millions of clients throughout the EU. Collectively, these licenses present substantial growth prospects across retail, professional, and institutional client segments, encompassing spot trading, derivatives, and payments. For clients, MiCA brings added assurance that Kraken’s services comply with a cohesive, EU-wide set of regulatory standards—ensuring enhanced consumer protections, increased transparency, and strong oversight—formalizing the high standards Kraken has long maintained and bolstering long-term trust in the market.
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