Kraken has announced that it has obtained an Electronic Money Institution (EMI) license from the Central Bank of Ireland. Additionally, Kraken has successfully registered as a Virtual Asset Service Provider (VASP) with Spanish Bank.
The EMI license granted to Kraken's Irish subsidiary enables the company to expand its Euro-denominated services by collaborating with European banks. This encompasses customers in 27 European Union (EU) member states and European Economic Area (EEA) countries, which are crucial growth regions for the company.
In Spain, Kraken's new VASP registration allows it to provide cryptocurrency exchange and custodial wallet services to residents of Spain. Previously, VASP registrations were recently completed in Ireland and Italy.
In previous news, Kraken's derivatives division has been in negotiations with UK regulatory authorities to expand its operations.