Kraken, one of the “longest-standing” crypto platforms, announced it has received authorization from the Central Bank of Ireland as an E-Money Institution (EMI).
In addition, Kraken has also “registered with the Bank of Spain as a Virtual Asset Service Provider (VASP).” These authorizations highlight Kraken’s ongoing commitment “to growing its European business.”
The EMI license, granted to Kraken’s subsidiary in Ireland, “enables Kraken to expand its EUR fiat services in partnership with European banks.” This extends to clients “in the 27 European Union (EU) member states and European Economic Area (EEA) countries – a key growth region for the company.”
In Spain, Kraken’s new VASP registration allows it “to offer cryptocurrency exchange and custodial wallet services to Spanish residents.” It follows recent VASP registrations “in Ireland and Italy.” These licenses are a testament to Kraken’s ongoing commitment “to regulatory compliance and European expansion.”
Curtis Ting, Kraken’s Vice President of Global Operations, said:
“Today’s announcement marks another important milestone in our European expansion strategy. We see a firm foundation for crypto in Europe, which has forward-looking regulation that enables us to grow with confidence. We are grateful for the constructive approach to regulating industry growth set by the Central Bank of Ireland and the Bank of Spain. In both Ireland and Spain, we are excited to become part of their vibrant local fintech sectors. We also look forward to continuing our investments in Europe more broadly.”
Kraken has built a track record for robust security and excellent client service that spans more than a decade. The company is continuously “investing in the enhancement and expansion of its offering.” In the last year Kraken has “launched its NFT marketplace, the Kraken Pro advanced trading interface, and a new consumer web user experience.”
Founded in 2011, Kraken was among “the first to offer spot trading, parachain auctions, staking, regulated derivatives and index services under one roof.”
“Trusted” by over 10 million individuals, traders and institutions around the world, Kraken offers professional 24/7/365 client support along “with one of the fastest, most performant trading platforms available.”
Kraken markets can be “monitored and traded via the web or through the Kraken and Kraken Pro iOS and Android apps.”