Kraken has announced the acquisition of a Markets in Financial Instruments Directive (MiFID) license in the EU. The license was obtained through the purchase of a Cypriot Investment Firm, recently approved by the Cyprus Securities and Exchange Commission (CySEC).
Shannon Kurtas, Kraken Co-GM of Pro & Exchange , Source: LinkedIn
“As we continue to expand our services across the globe, our focus on the European market remains a top priority,” said Shannon Kurtas, Kraken Co-GM of Pro & Exchange.
This development supports Kraken’s expansion strategy, enabling the company to offer regulated derivatives products to advanced crypto traders in selected EU markets.
Securing EU License for Crypto Traders
The new license emphasizes Kraken’s focus on meeting the demand for secure crypto derivatives trading in the EU. The company plans to meet additional conditions in the coming months to launch the products in local markets.
“This acquisition reflects our confidence in the EU and underscores our commitment to providing a trusted, regulated environment for advanced crypto traders and investors.” Kurtas added.
JUST IN: @krakenfx has obtained a MiFID license via a Cypriot Investment Firm acquisition, approved by CySEC.
This will allow them to offer regulated crypto derivatives in select EU markets soon. pic.twitter.com/YuZJ1yGOxr
— Satoshi Club (@esatoshiclub) February 3, 2025
Broadening Services for Advanced Traders
The offering will provide advanced traders with access to a wide range of assets, using various collateral currencies to back positions. Europe is an important market for Kraken, and offering fully compliant derivatives products from an EU-regulated base aligns with its growth strategy.
Kraken has been expanding its offerings for institutional and advanced investors. In 2019, Kraken acquired Crypto Facilities, a UK FCA-regulated crypto futures platform, enhancing its presence in the UK market.
Offering Fee Credits for FTX Clients
Kraken has introduced a new initiative for clients receiving funds from FTX on its platform. Eligible clients will receive fee credits, allowing them to trade up to $50,000 in cryptocurrency without paying trading fees, as reported by Finance Magnates.
In December, Kraken was selected as a partner for distributing funds to former FTX clients. The company intends to lower the cost of converting these US dollar payouts into cryptocurrencies.
Clients who qualify will receive up to $105 in Kraken trading fee credits (KFEE), depending on the amount received. These credits will be available on Kraken Pro and applied once the FTX distribution is received.
