Kraken Gains MiFID License Through CySEC Approved Cypriot Firm Purchase

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.

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 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.

This article was written by Tareq Sikder at www.financemagnates.com.



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