Kraken Secures License to Enter EU Derivatives Market

Crypto exchange Kraken secured a Markets in Financial Instruments Directive (MiFID) license in the European Union.

Kraken was able to obtain the license that will enable it to offer crypto derivatives products in the block of 27 nations by acquiring a Cypriot investment firm which had the license from the Cyprus Securities and Exchange Commission (CySEC).

“In the coming months, we will work on meeting the conditions to go live and launch the products in local EU markets.,” the company said in its blog post on Monday.

The exchange joins others like Bitstamp and FTX EU, which was recently bought by BackPack, that hold the MiFID license.

The license is part of Kraken’s expansion plan across Europe. It also acquired Crypto Facilities, a U.K. FCA-regulated crypto futures platform, in 2019.