Kraken News: Story’s IP Surges 16% Following Kraken Listing and Ecosystem Developments

In a move that bucked the broader market trend, Story’s IP cryptocurrency saw a significant surge in value following its listing on the Kraken exchange. Read on for more details about this impressive rally and the ecosystem developments that contributed to it.

Story’s IP Rallies Over 15% on Kraken Listing and Ecosystem Developments

Story’s IP defied the broader market downturn following its recent listing on Kraken on March 10. The altcoin rallied nearly 16% to an intraday high of $5.6 on March 11, flipping out of the bearish trend. Its market cap surged to over $1.3 billion, with a daily trading volume of $151 million and a circulating supply of over 250 million tokens. A host of partnerships and developments surrounding Story helped IP outpace the bearish trend prevailing in the broader crypto market, which fell 5% over the past day.

Kraken Secures FCA Electronic Money License in UK

Kraken has strengthened its UK crypto regulatory standing by securing authorization as an Electronic Money Institution (EMI) from the UK Financial Conduct Authority (FCA). This marks a critical regulatory milestone in Kraken’s expansion strategy in the United Kingdom. Trading under Payward Ltd, Kraken is also listed on the FCA’s “cryptoasset register.” The authorization enables the issuance of electronic money, streamlining deposit and withdrawal processes for UK-based users. This approval positions Kraken to introduce additional crypto-oriented financial products targeting a growing domestic market. The license underscores Kraken’s strategy to integrate within the UK financial ecosystem.