Kraken Receives Ireland’s MiCA License to Broaden EU Market Reach

Highlights:

• The exchange can now offer crypto services in all EEA countries after obtaining a MiCA license.
• The MiCA license expands the ability of the exchange to provide trading, payments, and derivatives across the European Union.
• Kraken joins other global exchanges approved to operate under the European Union’s MiCA framework.

Kraken, a United States-based cryptocurrency exchange founded in 2011, has been granted a license within the framework of Markets in Crypto-Assets (MiCA). The Central Bank of Ireland approved it on June 25. The new license enables Kraken to offer its crypto services in all 30 members of the European Economic Area (EEA). The license enables Kraken to provide a larger market with trading, derivatives, and payment services.

Kraken is now MiCA licensed ✅

Greenlit by the Central Bank of Ireland, we're cleared to operate across all 30 EEA states.

License secured. EU expansion unlocked.

Let’s build 🇪🇺 ⤵️ https://t.co/nrYYVmJueU pic.twitter.com/IV6Bz1wHeJ

— Kraken Exchange (@krakenfx) June 25, 2025

The exchange currently possesses the VASP registrations in France, Italy, Spain, and the Netherlands. The new license is an extension of these initiatives and helps Kraken meet the objective of serving retail and institutional customers. The company has stated that the approval is a sign of its continued efforts to achieve high compliance standards.

Multiple Licensing Strategy Employed by Kraken in Europe

MiCA is the latest license awarded to Kraken in the region after other previous licenses. The exchange received a Markets in Financial Instruments Directive license in February after acquiring a Cypriot investment firm. The United Kingdom Financial Conduct Authority licensed it as an Electronic Money Institution, where it has operated since 2014.

Arjun Sethi, the co-CEO of the Kraken exchange, said the latest approval represents years of preparation. “We believe trust is the most valuable currency in crypto, and it’s something you earn,” he said. He also noted that the team worked hard to meet the Central Bank of Ireland’s high expectations. The MiCA license also gives Kraken greater freedom to expand its products in the region. Other exchanges, such as coinbase and OKX, have secured a MiCA license this year

The growing demand for crypto services in Europe has supported this shift. According to Kraken, the euro makes up 17.5% of global fiat spot crypto trading volume. That figure has more than doubled over the past year. As a result, exchanges are aiming to build a strong presence in the EU before further market changes occur.

MiCA Implementation Spurs Licensing Race Among Global Crypto Platforms

The framework allows companies licensed in one EU country to operate across all the member states. While this simplifies access, it has raised concerns. Some industry participants warn that companies may choose countries with lighter oversight. After getting approved, they could expand services elsewhere without facing stricter rules.

This trend has appeared in other sectors and may affect how MiCA functions in practice. Still, many companies are moving forward with licensing. Kraken recently relocated its global headquarters to Wyoming. That decision came just one week before its MiCA approval and highlights its efforts to operate under clear rules.

Not every firm is following the MiCA path. Tether, which issues USDT, has stated that it does not intend to register under MiCA. This has led to the delisting of the token in several exchanges. Such decisions indicate that there are industry differences in how compliance is approached.