Kraken obtains MiCA license in Ireland… Accelerates EU expansion

Heecheol Yang

Summary

Kraken has obtained a MiCA license from the Central Bank of Ireland, enabling it to provide services within the EU.
Through this registration, Kraken announced it can expand its services to residents of the 30 countries within the European Economic Area (EEA).
It is reported that major global exchanges are also competing to secure the MiCA license.

The global virtual asset (cryptocurrency) exchange Kraken has completed registration as a virtual asset service provider under the European Union (EU)'s Markets in Crypto-Assets (MiCA) with the Central Bank of Ireland.

According to Cointelegraph on the 25th (local time), Kraken is now able to offer services to residents of the 30 member states of the European Economic Area (EEA) through this registration. Prior to this, Kraken had obtained both an Electronic Money Institution (EMI) license and a Markets in Financial Instruments Directive (MiFID) license.

Arjun Sethi, Kraken's co-CEO, stated, "Over the past few years, we have consistently worked to meet the highest level of regulatory standards required by the Central Bank of Ireland," expressing his ambition to expand services into the EU.

Meanwhile, major exchanges such as Coinbase, OKX, Crypto.com, and Bybit have all announced plans to acquire a MiCA license in 2025, while Gemini is reported to be awaiting approval from the Malta Financial Services Authority.