Kraken has successfully registered its Irish subsidiary, Payward Europe Solutions Limited, with the Central Bank of Ireland (CBI) as a Virtual Asset Service Provider (VASP).
The firm claims that Kraken’s Irish VASP registration “demonstrates to both their clients and regulators that Kraken follows Europe’s most robust anti-money laundering and compliance standards.”
Registration further underscores Kraken’s “commitment to driving crypto adoption across Europe, now and into the future.”
Mark Jennings, Kraken’s Head of European Operations, said:
“Clear and effective regulation is essential for the mainstream adoption of cryptocurrencies. As we bring innovative products and services to market, we’re committed to continuing to work with European regulators to operate compliantly under sensible, forward-looking crypto asset regulation. We’ve always put our clients first and believe in offering a compliant trading experience that leverages industry-leading customer service, robust security protocols, and a market-leading position in liquidity and volume for EUR crypto pairs.”
With VASP registration and their growing local team in Ireland, they deepen their commitment to our Irish clients and their ability “to access an extensive array of cryptocurrency assets.”
While buying and selling those assets, Kraken clients “benefit from the deepest liquidity for EUR crypto pairs available, as well as our industry-leading security that keeps their crypto safe.”
In another update, Kraken reveals that nearly twelve years ago, they began their pioneering mission “to become one of the first and most successful digital asset exchanges.”
They started trading only four cryptocurrencies, but they now “support over 220 assets on 67 blockchains, and over 700 markets.”
Thanks to their product and engineering teams — including experts in blockchain technology, security, networking, infrastructure, and trading systems — they’ve been able “to keep up with massive demand.”
As the industry has matured and evolved, so has “the size and nature of their client base.”
While they continue to serve individual investors and traders via their Kraken and Kraken Pro platforms, a growing part of their order flow “arrives algorithmically via their API from professional and institutional clients.”
These reportedly “include corporations, hedge funds, proprietary trading firms, prime brokers, fintechs, as well as other exchanges relying on Kraken’s deep liquidity.”
Their trading systems “have had to scale to meet these increased demands, particularly for those that heavily depend on speed, stability, and uptime in order to improve execution costs, manage market risk, and capitalize on trading opportunities.”
They achieved all of this without compromising on their number one priority — security, the company claims.
For more details, check here.
