Kraken Progresses European Expansion, Secures EU E-Money License and VASP in Spain
We are excited to announce we have received authorization from the Central Bank of Ireland as an E-Money Institution (EMI). In addition, we have also successfully registered with the Bank of Spain as a Virtual Asset Service Provider (VASP). These authorizations highlight our ongoing commitment to growing our European business.
The EMI license, granted to our subsidiary in Ireland, enables us to expand our EUR fiat services in partnership with European banks. This extends to clients in the 27 European Union member states and European Economic Area countries – a key growth region for the company.
In Spain, our new VASP registration allows us to offer cryptocurrency exchange and custodial wallet services to Spanish residents. It follows recent VASP registrations in Ireland and Italy. These licenses are testament to our ongoing commitment to regulatory compliance and European expansion.
“Today’s announcement marks another important milestone in our European expansion strategy,” said Curtis Ting, Kraken’s Vice President of Global Operations. “We see a firm foundation for crypto in Europe, which has forward-looking regulation that enables us to grow with confidence. We are grateful for the constructive approach to regulating industry growth set by the Central Bank of Ireland and the Bank of Spain. In both Ireland and Spain, we are excited to become part of their vibrant local fintech sectors. We also look forward to continuing our investments in Europe more broadly.”
Kraken has built a track record for robust security and excellent client service that spans more than a decade. The company is continuously investing in the enhancement and expansion of its offering. In the last year Kraken has launched its NFT marketplace, the Kraken Pro advanced trading interface and a new consumer web user experience.
Ting added, “Our market-leading position in liquidity and volume for EUR crypto pairs, round-the-clock live client service and robust security bring a compelling value proposition for future clients in Europe. We’re committed to the ongoing investment in our European business as we continue our efforts to advance the adoption of crypto within Europe in the years ahead.”
These materials are for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell, stake or hold any cryptoasset or to engage in any specific trading strategy. Kraken will not undertake efforts to increase the value of any cryptoasset that you buy. Crypto products and markets are unregulated, and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the cryptoasset markets can lead to loss of funds. Tax may be payable on any return and/or on any increase in the value of your cryptoassets and you should seek independent advice on your taxation position. Geographic restrictions may apply.
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