Kraken Strengthens EU Market Presence with Strategic Cyprus Acquisition

Kraken has made a significant move to expand its derivatives trading services within the European Union by acquiring a licensed entity in Cyprus. This strategic acquisition grants Kraken a MiFID passport, allowing it to operate seamlessly across all EU and EEA markets. The development follows Kraken’s recent launch of derivatives trading in the UK, highlighting the exchange’s commitment to offering regulated crypto products tailored for sophisticated traders. Derivatives trading has become a substantial part of Kraken’s business, reflecting the growing demand for advanced crypto financial instruments in the region.

Kraken Expands EU Derivatives Footprint Through Cyprus Acquisition

Kraken has strategically expanded its derivatives trading services across the European Union by acquiring a Cyprus-based licensed entity. The MOVE grants the exchange a MiFID passport, enabling seamless operations across all EU and EEA markets.

The acquisition follows Kraken’s recent UK derivatives launch, underscoring its focus on regulated crypto products for sophisticated traders. Derivatives now account for approximately 50% of Kraken’s global trading volume, signaling growing institutional demand for Leveraged crypto exposure.

This regulatory arbitrage positions Kraken favorably against competitors still navigating Europe’s fragmented licensing landscape. The Cyprus foothold provides immediate access to 27 member states without country-by-country approvals.

Ethereum Co-Founder’s Major ETH Transfer Sparks Market Speculation

Jeffrey Wilcke, a co-founder of Ethereum who departed the project in 2019, moved $262 million worth of ETH to Kraken exchange. The transaction coincides with a minor BTC price dip from $105,000 to $104,000 during U.S. market hours.

Wilcke’s exit from ethereum development five years ago was followed by his focus on a gaming venture. The timing suggests profit-taking during ETH’s recent rally, though the sum represents a fractional impact on overall liquidity.

Market observers note such moves by early project contributors often signal shifting risk appetite among crypto’s founding generation. The event highlights ongoing tension between long-term builders and opportunistic capital deployment in maturing blockchain ecosystems.