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Crypto exchange Kraken has secured a Markets in Financial Instruments Directive (MiFID) licence through the acquisition of a (unnamed) Cypriot Investment Firm, following approval from the Cyprus Securities and Exchange Commission (CySEC).
The move enables Kraken to offer regulated cryptocurrency derivatives trading to advanced traders across selected European Union markets, subject to meeting final operational conditions in the coming months.
The acquisition expands Kraken's regulatory footprint in Europe, which already includes a presence in the UK through Crypto Facilities, a Financial Conduct Authority-regulated futures platform acquired in 2019.
"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 acquisition reflects our confidence in the EU and underscores our commitment to providing a trusted, regulated environment for advanced crypto traders and investors."
The planned derivatives offering will allow traders to gain exposure to various digital assets using different collateral currencies. Europe represents a key growth market for crypto derivatives trading, according to the company.
The development comes as cryptocurrency exchanges increasingly seek regulatory approval across multiple jurisdictions, with the EU implementing comprehensive digital asset regulations through its Markets in Crypto-Assets (MiCA) framework.
Kraken stated that traders will need to wait for final operational requirements to be met before the derivatives service launches in local EU markets. The company has not provided a specific timeline for the launch.
