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In brief Kraken’s Brett McLain said the exchange was able to embed its service into neobank bunq’s platform within a matter of weeks. Bunq approached Kraken at the “11th hours,” he said. The solution could drive user growth as Kraken eyes an initial public offering. Crypto exchange Kraken is willing to hit some pretty tight deadlines, as the exchange works to elevate its brand and market share through a new business solution dubbed Kraken Embed, according to the company’s Head of Payments and Blockchain Brett McLain. In an interview with Decrypt, McLain said that Kraken’s recent tie-up with bunq, a Netherlands-based neobank, was the result of a last-minute shift—and a blueprint for how the company could expand its presence through relationships with similar firms, fintechs, and traditional banks. Bunq was planning on going with another firm for integrating crypto into its platform but turned to Kraken at the “11th hour,” McLain said. The service went live only a few weeks after bunq’s team verbally agreed to it, with limited amounts of engineering needed, he added. “For a classic neobank to go from having no crypto exposure whatsoever to […] being able to offer […]. 400-plus assets that quickly in Europe, which is a heavily regulated market, is pretty game-changing,” he argued. “That’s what we’re bringing to the table.” The solution can also help firms save on engineering, regulatory, and legal costs, McLain said. At the same time, Embed allows firms in Europe to offer their customers crypto trading without a license under the EU’s Markets in Crypto Assets Regulation, or MiCA, regime. Although Kraken faces stiff competition from the likes of Coinbase and Binance in the U.S. and abroad, the exchange’s ability to attract new users through its Embed offering could potentially put it on more even footing, as Kraken…

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Filed under: News - @ May 16, 2025 11:27 pm