Kraken has made history as the first cryptocurrency exchange to receive a Markets in Crypto-Assets Regulation (MiCA) licence from the Central Bank of Ireland. This regulatory milestone comes alongside significant growth in Kraken's euro-denominated spot trading, which now accounts for 17.5% of its total trading volume.
Kraken's Regulatory Milestone in Europe
The exchange revealed it now holds both MiCA and MiFID II licences in Europe, positioning it to offer comprehensive crypto services including:
- Spot trading
- Derivatives instruments
- Euro-denominated transactions
"Being the first major global crypto platform to receive authorisation from the CBI affirms Kraken's commitment to building for the long term," said Arjun Sethi, co-CEO of Kraken. "Our team has worked tirelessly to meet the CBI's gold-standard regulatory expectations."
👉 Discover how major exchanges are adapting to MiCA regulations
The European MiCA Licensing Landscape
Kraken joins several exchanges that have secured MiCA licences since the regulations became mandatory:
| Exchange | Country of MiCA Licence |
|---|---|
| Crypto.com | Malta |
| OKX | Malta |
| Bitpanda | Germany, Malta, Austria |
| Coinbase | Luxembourg |
| Kraken | Ireland |
| Bitstamp | Luxembourg |
| Bybit | Austria |
| Trade Republic | Germany |
While a single EU national authority grants the MiCA licence, it allows licensees to "passport" services across all 30 European Economic Area (EEA) states. Larger platforms like Binance and Gemini have confirmed their applications are in progress.
Kraken's Strategic Expansion
Before obtaining the MiCA licence, Kraken had already established:
- Virtual Asset Service Provider (VASP) registrations in 7 European countries
- An electronic money licence from the Irish regulator
The exchange has also diversified its offerings through:
- Acquisition of a Cyprus-based CFDs broker for MiFID II compliance
- Launch of crypto derivatives (perpetual and fixed-maturity contracts)
- Plans to introduce tokenized stocks
👉 Explore Kraken's growing crypto derivatives platform
FAQ: Understanding Kraken's MiCA Licence
Q: What does the MiCA licence allow Kraken to do?
A: It authorizes Kraken to offer regulated crypto services across all 30 EEA countries, with oversight from Ireland's Central Bank.
Q: How significant is Kraken's euro-denominated trading volume?
A: At 17.5% of total volume, it demonstrates strong European market penetration and validates Kraken's EU-focused strategy.
Q: What's next for Kraken's European expansion?
A: The exchange plans to leverage its MiFID II licence to expand derivative offerings while continuing traditional finance integrations like tokenized stocks.
Q: How does Kraken's regulatory status compare to competitors?
A: As one of few exchanges with both MiCA and MiFID II licences, Kraken has a competitive edge in serving both retail and institutional European clients.
Kraken's Position in the Crypto Ecosystem
As one of the oldest operational crypto exchanges, Kraken continues to demonstrate its commitment to compliance while expanding into traditional finance through:
- The $1.5 billion acquisition of NinjaTrader
- Development of tokenized stock offerings
- Strategic focus on European market growth
The exchange's dual regulatory approval (MiCA and MiFID II) positions it as a leader in the evolving landscape of compliant cryptocurrency services.
👉 Learn more about compliant crypto trading platforms
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