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Kraken, the US-based cryptocurrency platform, has received an EU e-money license from the Central Bank, marking a significant step in its expansion across Europe. Additionally, Kraken has registered with the Bank of Spain as a Virtual Asset Service Provider (VASP).
These regulatory authorizations are key components of Kraken’s strategy to grow its European operations. The EU e-money license granted by the Central Bank will allow Kraken to expand its EUR fiat services to clients in all 27 EU member states. Furthermore, the VASP registration in Spain enables Kraken to provide cryptocurrency exchange and custodial wallet services to residents of Spain.
Kraken joins a growing list of cryptocurrency platforms using Irish regulatory approval as an entry point into the European market. Curtis Ting, Vice President of Global Operations at Kraken, expressed the company’s confidence in Europe’s crypto-friendly regulatory environment, stating, “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.”
Ting emphasized Kraken’s commitment to becoming a part of the vibrant local fintech sectors in both Ireland and Spain, with plans to continue investing in Europe as a whole.
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