Ireland grants EMI licence to crypto firm Kraken

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Crypto platform Kraken has been granted an E-Money Institution (EMI) licence by the Central Bank of Ireland.

The latest certification allows Kraken to expand its European crypto-to-fiat services, making it live in all 27 European Union members and countries in the European Economic Area (EEA).

Curtis Ting, Kraken’s Vice President of Global Operations, commented: “Today’s announcement marks another important milestone in our European expansion strategy.

“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.”

In addition to its newly-acquired EMI licence, Kraken has also successfully registered with the Bank of Spain as a Virtual Asset Service Provider (VASP), growing the firm’s European footprint even more. The VASP licence unlocks crypto exchange and custodial wallet services for Kraken users that are currently in Spain.  

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.”