Kraken obtains a Mifido license through purchases of CYSEC approved Cyprus companies

Kraken has announced the acquisition of the market for Financial Instruments Directive (MIFID) licenses in the EU. The license was obtained through the purchase of a Cypriot Investment Company recently approved by the Cyprus Securities and Exchange Commission (CYSEC).

“As we continue to expand our services around the world, our focus on the European market remains a top priority,” said Shannon Kurtas, Kraken Co-GM at Pro & Exchange.

This development supports Kraken’s expansion strategy, allowing us to offer regulated derivative products to senior crypto traders in selected EU markets.

Protecting EU licenses for crypto traders

The new license highlights Kraken’s focus on meeting the demand for secure crypto derivatives in the EU. The company plans to meet additional requirements in the coming months to launch its products in the local market.

“This acquisition reflects our trust in the EU and highlights our commitment to providing a reliable, regulated environment for sophisticated crypto traders and investors,” Kurtas added. did.

Just: @KrakenFX has acquired a MIFID license through the acquisition of a Cyprus investment company approved by CYSEC.

This will soon be able to offer cryptographic derivatives regulated in certain EU markets. pic.twitter.com/yuzj1ygoxr

– Satoshi Club (@esatoshiclub) February 3, 2025

Expanding services for advanced traders

This offering provides advanced traders with access to a wide range of assets to back their positions using a variety of collateral currencies. Europe is a key market for Kraken, aligning derivative products with their growth strategy that are fully compliant with EU-controlled fundamentals.

Kraken is expanding its offerings for institutional and senior investors. In 2019, Kraken acquired the Crypto facility, a UK FCA-regulated crypto futures platform, to increase its presence in the UK market.

Provide fee credits to FTX clients

Kraken has introduced a new initiative for clients receiving funding on the platform from FTX. Qualified clients will receive a fee credit and will be able to trade cryptocurrencies up to $50,000 without paying a transaction fee, as reported by financial giants.

In December, Kraken was chosen as a partner to distribute funds to former FTX clients. The company plans to reduce the cost of converting these US dollar payments into cryptocurrency.

Qualified clients will receive up to $105 Kraken Transaction Fee Credit (KFEE) based on the amount received. These credits are available on Kraken Pro and apply when you receive an FTX distribution.