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A major milestone in its European development has been reached by Kraken, a prominent cryptocurrency exchange, which has obtained a Markets in Financial Instruments Directive (MiFID) license. Kraken is able to provide cryptocurrency derivatives throughout the 27-nation European Union because to its license.
Kraken purchased a Cypriot investment company that was already subject to Cyprus Securities and Exchange Commission (CySEC) regulation in order to gain the license. The exchange will include its crypto derivatives services into the European market by utilizing this purchase.
Kraken stated in a blog post: “In the coming months, we will work on meeting the conditions to go live and launch the products in local EU markets.”
Kraken now joins other crypto exchanges, including Bitstamp and FTX EU—recently acquired by Backpack—that have secured MiFID licenses. This approval strengthens Kraken’s ability to compete in the European crypto derivatives space.
This move aligns with Kraken’s broader strategy to expand its presence in key financial markets. The exchange has been growing steadily, acquiring Crypto Facilities in 2019, a U.K.-based crypto futures platform regulated by the Financial Conduct Authority (FCA).
By obtaining the MiFID license, Kraken reinforces its commitment to compliance while positioning itself as a key player in Europe’s evolving digital asset market.