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Kraken Expands Further in Spain and Ireland Through Key Regulatory Steps

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Kraken, a cryptocurrency exchange, has received a virtual asset service provider registration from Spain's central bank, allowing it to offer crypto exchange and custodial wallet services to Spanish residents. Additionally, Kraken's Irish subsidiary has obtained an e-money institution (EMI) license in Ireland, enabling it to expand its EUR fiat services in partnership with banks in Ireland and Europe. This expansion comes as exchanges seek to grow in Europe following regulatory clarity from the European Union and the upcoming implementation of the markets in crypto assets regulation (MiCa) in 2024. Kraken sees Europe as a promising market with forward-looking crypto regulation and plans to continue its investments in the region.