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Kraken receives MiCA license: A milestone for the European crypto market!
Crypto exchange Kraken receives MiCA license in Ireland, enabling services in 30 EEA countries and strengthening European expansion.
Kraken receives MiCA license: A milestone for the European crypto market!
Cryptocurrency exchange Kraken has received a key license from the Central Bank of Ireland under the new European regulatory framework for digital assets. This MiCA (Markets in Crypto-Assets) license allows Kraken to offer crypto services in the 30 member states of the European Economic Area (EEA). Obtaining this license marks a crucial milestone for the company's expansion within Europe btc-echo.de reported.
With this approval, Kraken significantly expands its reach and can now serve users in numerous European countries, including Ireland, Belgium, France, Italy, the Netherlands, Poland and Spain, where the exchange is already registered as a virtual asset provider. Before licensing, Kraken had access to the German market through a partner, DLT Finance.
Strategic expansion and product development
Arjun Sethi, Co-CEO of Kraken, highlights that obtaining the MiCA license strengthens the company's position to expand its product offering and increase its customer base. This license is part of a series of approvals that Kraken has acquired in recent years, including a MiFID license in February 2025 and approval as an electronic money institution in 2023, as it-boltwise.de notes.
The MiCA framework came into force in 2024 and is intended to create regulatory consistency for digital assets in the EU. This comes in an environment where other crypto exchanges such as Coinbase, OKX, Crypto.com and Bybit are also seeking MiCA licenses to operate in the European market by 2025.
Trust and regulatory challenges
Sethi also emphasizes the importance of trust in the crypto space and meeting regulatory expectations. The MiCA license could help increase trust in cryptocurrencies and their providers. This regulatory framework is particularly important as Kraken operates under digital asset market structure laws being debated in the United States.
In addition, Kraken plans for its in-house Ethereum Layer 2 solution called Ink to receive its own token. This could open up new opportunities for users and provide a wider range of services that the exchange can offer. While Kraken continues to work on strengthening its European presence, it remains to be seen how other major players in the crypto sector will respond to the developments.