Kraken has obtained an Electronic Money Institution (EMI) license from the UK’s Financial Conduct Authority (FCA), allowing the crypto exchange to issue electronic money and enable faster deposits and withdrawals for British users.
The regulatory approval enhances Kraken’s ability to partner with traditional financial institutions, reinforcing its role in the growing UK crypto market.
Kraken Eyes UK Crypto Growth
Bivu Das, Kraken’s UK General Manager, emphasized the rising demand for crypto-based financial services, stating that the UK is on the verge of mass adoption.
Recent research from the FCA reveals that 12% of UK adults now hold cryptocurrency, with trading volumes in British pounds increasing steadily.
Expanding Compliance Across Europe
Kraken’s FCA license approval comes shortly after the exchange secured regulatory clearance in the EU to offer regulated derivatives trading.
With compliance now in place across both the UK and Europe, Kraken is positioning itself as a bridge between crypto and traditional finance, with plans to launch new products in the coming months.
