Kraken Drives European Expansion, Receives EU E-Money License and Registers as VASP in Spain

Crypro exchange Kraken announced Tuesday (September, 26, 2023) it has received authorization from the Central Bank of Ireland as an E-Money Institution (EMI). In addition, Kraken has also successfully registered with the Bank of Spain as a Virtual Asset Service Provider(VASP). These authorizations highlight Kraken’s ongoing commitment to growing its European business.

The EMI license, granted to Kraken's subsidiary in Ireland, enables Kraken to expand its EUR fiat services in partnership with European banks. This extends to clients in the 27 European Union (EU) member states and European Economic Area (EEA) countries – a key growth region for the company.

In Spain, Kraken's new VASP registration allows it to offer cryptocurrency exchange and custodial wallet services to Spanish residents. It follows recent VASP registrations in Ireland and Italy.

"Today's announcement marks another important milestone in our European expansion strategy," said Curtis Ting, Kraken's Vice President of Global Operations. "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."

(Source: Businesswire)