Kraken secures UK EMI permits. Laying the foundation for the next stage of UK growth ambition

We are pleased to announce that we have formally secured approval from the UK Financial Conduct Authority (FCA) of the Electronic Money Agency (EMI). This important milestone for UK operations unlocks the opportunity to accelerate our growth plans and launch even more exciting products and services to meet the evolving needs of our UK clients.

EMI licenses strengthen the market position in the UK by allowing e-money to be issued, and encourage clients to quickly deposit and withdraw. This will serve as a launchpad for future growth and create a variety of opportunities to build partnerships with major traditional financial institutions.

“The UK is on the verge of adopting large-scale crypto, and Kraken is poised to lead the way with industry-leading products. We have a major plan for UK users, unleashing the wave of demand for crypto-driven financial solutions that showcase the real utility for UK investors and consumers. Securing an EMI license is a fundamental step in our expansion strategy and we are excited to announce this approval today,” said Bivu Das, UK general manager.

Today’s news is based on Kraken’s momentum to secure approval and licenses from key regulators, including the recent EU MIFID license. The UK EMI license also reaffirms its ongoing commitment to robust security and compliance protocols, encouraging innovation in the UK crypto ecosystem while meeting the strict FCA regulatory standards.

This comes at a pivotal moment in the UK. Because more adults are diversifying into crypto as part of their broader portfolio. A study by the FCA shows that over 7 million adults in the UK (approximately 12% of the adult population) are their codes, with both perception and average portfolio values ​​increasing year-on-year.

This growing enthusiasm, coupled with the expansion and strengthening of UK offering, has fueled the incredible success of UK Kraken.

• The UK has become one of the most active markets in the world by trading volumes. The UK offers over 300 crypto assets for transactions.
• We were the first major exchange to offer the BTC/GBP trading pair in 2014 and remained the market leader in the volume offered by GBP.
• It offers multiple Fiat-on-Ramp and GBP trading pairs, allowing UK clients to seamlessly access cryptography.
• It has secured major brand partnerships with the UK Sports Giants, including the Williams Racing F1 team and Tottenham Hotspur FC.
• In both 2023 and 2024, Newsweek was ranked among the top 100 most beloved UK workplaces where Kraken is the top 100 most beloved UK workplaces.

What’s next?

In the coming months, we will unveil some exciting new cryptography and Fiat products designed to help UK users build wealth through crypto, unlocking accessible ways to use all assets in your Kraken account as a source of liquidity.