Key Insights
- Kraken has obtained an EMI license from the UK’s FCA, enabling faster transactions and expanding its services in the UK market.
- The U.S. SEC has agreed to dismiss its lawsuit against Kraken, allowing the exchange to reintroduce on-chain staking services for American customers.
LONDON (MarketsXplora) – Cryptocurrency exchange Kraken has received an Electronic Money Institution (EMI) license from the UK’s Financial Conduct Authority (FCA), allowing it to issue electronic money and provide faster deposit and withdrawal options for UK clients. The move is part of the company’s broader strategy to expand its footprint in one of the world’s most active cryptocurrency markets.
The regulatory approval strengthens Kraken’s position in the UK, where it has seen substantial growth and leads in GBP-denominated trading volumes. The exchange, which supports over 300 cryptocurrencies for trading, continues to focus on compliance and security while enhancing its offerings for retail and institutional investors.
“This is a foundational step in our expansion strategy, and we’re thrilled to announce this authorization today,” said Bivu Das, Kraken’s UK General Manager. “We have major plans for UK users that will unlock a wave of demand for crypto-powered financial solutions that showcase real utility for UK investors and consumers.”
The EMI license announcement follows another key development for Kraken in the United States. The U.S. Securities and Exchange Commission (SEC) recently agreed to dismiss a lawsuit that accused Kraken of operating as an unregistered securities exchange. The lawsuit’s dismissal signals a shift in U.S. cryptocurrency regulation, allowing Kraken to reintroduce its on-chain staking services for American customers.
UK Market Growth and Strategic Partnerships
The UK has emerged as a key market for cryptocurrency adoption, with more than seven million adults now owning digital assets, according to FCA data. Kraken’s expansion aligns with this growing demand, positioning the exchange to capitalize on increasing investor interest.
In addition to its regulatory achievements, Kraken has secured major sponsorship deals with leading UK sports teams, including Williams Racing Formula 1 and Tottenham Hotspur FC. These partnerships highlight the exchange’s efforts to enhance brand visibility and strengthen its connection with the UK consumer base.