The post Kraken authorized as Electronic Money Institution (EMI) with UK license appeared on BitcoinEthereumNews.com.

Kraken became an Electronic Money Institution (EMI) with a new UK license. The exchange, focused on the European market, is adding new licenses to continue with fully regulated services.  Kraken acquired an Electronic Money Institution (EMI) license for the UK market. The Financial Conduct Authority (FCA) awarded the license, opening the doors to more innovative products on Kraken.  “The U.K. is on the brink of mass crypto adoption, and Kraken is poised to lead the way with industry-leading products. Securing an EMI license is a foundational step in our expansion strategy, and we’re thrilled to announce this authorization today,” said U.K. General Manager Bivu Das. Kraken claimed over 7M British are crypto investors or about 12% of the adult population. The UK is one of the most active markets for several trends, including VC funding, DeFi, and Solana trades. The UK was also one of the top users of Pump.fun and meme token trades, though the country was banned from participating by the FCA.  The exchange will build several crypto and fiat products specifically for UK users. They will be able to build a portfolio and use some of the assets in their Kraken account as a source of liquidity. Kraken still offers over 300 assets, among them the most accessible regulated stablecoins. An EMI license may boost available sources of liquidity.  Kraken has offered GBP trading since 2014, with multiple direct fiat on-ramps and trading pairs, making local access to cryptocurrency easier. With the new license, Kraken will add even faster and more secure forms of payment processing.  The new regulatory status arrived about a month after Kraken acquired a MiFID license for operating within the Euro Area. The license allows for a wider selection of regulated derivatives.  Kraken is now set to diminish the number of stablecoins for…

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Filed under: News - @ March 10, 2025 8:23 pm