San Francisco-based cryptocurrency exchange Kraken has announced its continued European expansion with the successful acquisition of an EU e-money license. This milestone allows Kraken to operate as an electronic money institution across the European Union.
The license, granted by the European Central Bank, will further strengthen Kraken’s position within the EU cryptocurrency market. With this e-money license, Kraken will be able to offer an even more comprehensive suite of financial services to its European customers.
“We are thrilled to have obtained this license, which is a testament to Kraken’s commitment to offering a compliant and secure platform for our users. This milestone will allow Kraken to expand its services throughout Europe and offer our customers an enhanced, seamless experience,” said Jesse Powell, CEO of Kraken.
Kraken’s European expansion comes at a time when cryptocurrency adoption is on the rise. With growing interest in digital assets and their underlying technology, Kraken aims to address the evolving needs of its customers. This e-money license will provide users with easier access to fiat currency and facilitate seamless international transfers.
Kraken’s expansion plans in Europe include the establishment of multiple offices and the hiring of talented professionals with expertise in finance, compliance, and technology. By expanding its presence, Kraken aims to better serve its European customer base while adhering to regulatory requirements.
Published on August 20, 2022