Kraken News: Secures UK EMI License to Expand Crypto Services

Kraken, a prominent cryptocurrency exchange, has made significant strides in expanding its services in the UK by securing an Electronic Money Institution (EMI) license from the Financial Conduct Authority (FCA). This development marks a crucial milestone for the exchange, opening up new avenues for growth and innovation.

Kraken Secures UK EMI License, Expanding Crypto Services

Kraken has obtained an Electronic Money Institution license from the UK’s Financial Conduct Authority. The approval allows Kraken to issue electronic money and facilitate faster deposits and withdrawals for UK customers. With this authorization, the exchange can establish partnerships with traditional financial institutions and introduce new products tailored to UK users. Bivu Das, Kraken’s UK General Manager, stated that the exchange is preparing to meet increasing demand for crypto-based financial services in the country. The U.K. is seeing growing interest in cryptocurrency investments, with 12% of UK adults holding crypto.

Kraken Gains FCA EMI License, Reintroduces US Staking Services

Cryptocurrency exchange Kraken has obtained an Electronic Money Institution (EMI) license from the UK’s Financial Conduct Authority (FCA). This approval allows Kraken to issue electronic money and offer faster deposit and withdrawal options for UK clients. The move is part of the company’s growth strategy to enhance its services in the UK market. Additionally, the US Securities and Exchange Commission (SEC) has dismissed a lawsuit accusing Kraken of operating as an unregistered securities exchange. Following this, Kraken is reintroducing on-chain staking services for American customers.