Kraken News: Kraken Obtains UK EMI License to Boost Crypto Services

Kraken, a prominent cryptocurrency exchange, has secured a significant regulatory milestone by obtaining an Electronic Money Institution (EMI) license from the UK’s Financial Conduct Authority (FCA). This approval paves the way for enhanced services for UK customers and broader partnerships with traditional financial institutions.

Kraken Secures UK License for E-Money Issuance

Kraken has received an Electronic Money Institution (EMI) license from the UK’s Financial Conduct Authority (FCA), enabling the crypto exchange to issue electronic money and enhance deposits and withdrawals for UK customers. With this regulatory approval, Kraken aims to partner with traditional financial institutions and expand its offerings to better serve UK users. The UK is experiencing a surge in crypto adoption, with over seven million UK adults holding cryptocurrencies, according to FCA research.

Kraken Exchange Secures EMI License from UK Financial Regulator

Kraken, a major US-based cryptocurrency exchange, has received approval from the UK’s Financial Conduct Authority (FCA) to operate as an Electronic Money Institution (EMI). This allows Kraken to issue electronic money for its UK clients, offering better financial services and strengthening its position in the UK market. The company believes this will improve its relationship with UK banks and provide users with a smoother experience. Kraken announced that the EMI license will make deposits and withdrawals faster for UK users, an important step in making cryptocurrency transactions easier and more efficient.