Crypto exchange Kraken intends to obtain a license in the European Union: this was announced by the CEO – Jesse Powell. The company is in talks with regulators in Malta, Ireland and Luxembourg and plans to complete the processes by the end of the year.
Obtaining a European license is to remain compliant both now and in the future, including by actively working to obtain various European licenses. Kraken is currently operating in the EU under the license of the UK financial regulator UK FCA. Although the exchange fully complies with the requirements of European legislation, the situation may change in the future, the European license will eliminate the risks associated with Brexit.
The European market is one of the main sources of income for the company, which operates in 190 jurisdictions. In January of this year, Kraken launched a new version of its app in Europe: from January to May, the number of its users grew by 6 times. In total, Kraken has more than 7 million users in different countries — on August 24, the daily trading volume on the exchange was about $ 1.4 billion, according to Coinmarketcap.
Clients of the Global Technologies Private Portfolio fund purchased Kraken shares in September 2019, have a current return of over 208%.