The license was obtained through the acquisition of a Cypriot investment company, which has recently been approved by the Cyprus Securities and Exchange Commission (CySEC), according to a company press release.
“This event marks an important step in our expansion strategy, enabling us to offer fully compliant and regulated derivative products for advanced crypto traders in EU markets,” said Kraken in the statement.
In the coming months, the exchange will work on meeting the requirements necessary to launch products in local EU markets.
“As we continue to expand our services globally, our focus on the European market remains a top priority,” said Shannon Kourtas, CEO of Kraken in Pro & Exchange. “This acquisition reflects our confidence in the EU and underscores our commitment to providing a reliable, regulated environment for advanced crypto traders and investors.”