Kraken has obtained an Electronic Money Institution license from the UK’s Financial Conduct Authority.
The approval allows Kraken to issue electronic money and facilitate faster deposits and withdrawals for UK customers.
With this authorization, the exchange can establish partnerships with traditional financial institutions and introduce new products tailored to UK users. Bivu Das, Kraken’s UK General Manager, stated that the exchange is preparing to meet increasing demand for crypto-based financial services in the country.
“The U.K. is on the brink of mass crypto adoption, and Kraken is poised to lead the way with industry-leading products,” Das said.
12% of UK adults hold crypto
Kraken’s regulatory approval comes as the UK sees growing interest in cryptocurrency investments.
According to FCA research, over seven million UK adults—about 12% of the adult population—now own crypto assets. The exchange has also seen an increase in GBP-denominated trading volumes, reinforcing the UK as one of its most active markets globally.
The EMI license follows Kraken’s recent approval under the EU’s MiFID framework, which allows it to offer regulated derivatives to European traders. By securing compliance with both UK and EU regulators, Kraken positions itself as a key player in crypto’s integration with traditional finance.
Kraken has been active in the UK since 2014, when it became the first major exchange to introduce a BTC/GBP trading pair. The platform now offers trading for over 300 cryptocurrencies and provides multiple fiat onramps for British users.
Additionally, Kraken has expanded its presence through partnerships with UK sports brands such as Williams Racing F1 and Tottenham Hotspur FC.
The company plans to roll out new crypto and fiat products in the coming months, aiming to provide UK users with more tools for managing their digital assets. These upcoming offerings are expected to enhance Kraken’s role in the country’s evolving crypto landscape.
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