Kraken has received a work permit in the European Economic Area

What’s new? Kraken, the leading US centralized crypto exchange, has received a license under the European Union’s common regulation of Markets in Crypto-Assets (MiCA) from the Central Bank of Ireland, which allows it to provide services in 30 member states of the European Economic Area (EEA).

Press release

What else is known? The approval followed Kraken’s acquisition of a license under the European Union’s Markets in Financial Instruments Directive (MiFID) in February and an Electronic Money Institution (EMI) license in 2023.

Earlier this month, Kraken moved its global headquarters to Cheyenne, the administrative center and largest city in Wyoming, citing a favorable regulatory environment.

Tether-backed companies have launched stablecoins in the EU in compliance with MiCA

Earlier, Tether withdrew from the EU market due to the requirements of the new legislation

Read more

The company also noted the support of cryptocurrency by Wyoming Senator Cynthia Lummis, who chairs the digital assets subcommittee of the Senate Banking Committee and is the author of the bill to create a national bitcoin reserve under the acronym BITCOIN.

In March, the US Securities and Exchange Commission (SEC) withdrew a civil lawsuit against Kraken dated 2023, alleging that it operated as an unregistered exchange, broker, dealer, and clearing agency.

In early May, Kraken bought the US-regulated futures trading platform NinjaTrader. The deal will provide the exchange’s clients in the United States with access to the traditional derivatives market, which is in line with its plans to become a platform for all types of trading.

Custodian BitGo has received a MiCA license from the German regulator

The company’s German branch was launched in 2023

Read more

Earlier this month, Mastercard officially joined the Global Dollar Network stablecoin consortium, which already includes Kraken and broker Robinhood.

Kraken also launched a brokerage platform for institutional crypto clients, and in partnership with the DeFi protocol, Babylon began offering BTC staking without the need for wrapped assets and cross-chain protocols.

In May, Kraken teamed up with Backed and the Solana Foundation to launch the xStocks platform, which will offer tokenized US stocks and shares of exchange-traded funds (ETFs) on the Solana blockchain.