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).

Kraken Targets European Market with Derivatives

"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 Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term.

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 Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term 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.