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The license was obtained through the acquisition of a Cypriot firm.
Feb 4, 2025, 10:27 a.m. UTC
Crypto exchange Kraken secured a Markets in Financial Instruments Directive (MiFID) license in the European Union.
Kraken was able to obtain the license that will enable it to offer crypto derivatives products in the block of 27 nations by acquiring a Cypriot investment firm which had the license from the Cyprus Securities and Exchange Commission (CySEC).
"In the coming months, we will work on meeting the conditions to go live and launch the products in local EU markets.," the company said in its blog post on Monday.
The exchange joins others like Bitstamp and FTX EU, which was recently bought by by BackPack, that hold the MiFID license.
The license is part of Kraken's expansion plan across Europe. It also acquired Crypto Facilities, a U.K. FCA-regulated crypto futures platform, in 2019.
Camomile Shumba
Camomile Shumba is a CoinDesk regulatory reporter based in the UK. Previously, Shumba interned at Business Insider and Bloomberg. Camomile has featured in Harpers Bazaar, Red, the BBC, Black Ballad, Journalism.co.uk, Cryptopolitan.com and South West Londoner. Shumba studied politics, philosophy and economics as a combined degree at the University of East Anglia before doing a postgraduate degree in multimedia journalism. While she did her undergraduate degree she had an award-winning radio show on making a difference. She does not currently hold value in any digital currencies or projects.
