Kraken has just received a Markets in Financial Instruments Directive (MiFID) license for the European Union.
This license will allow Kraken to offer derivative products to experienced crypto traders in the EU.
The acquisition of the license has been made possible by the purchase of a Cypriot investment firm that was recently approved by the Cyprus SEC.
Since its founding in 2011, Kraken has expanded across Europe, obtaining licenses in Spain and Ireland, launching Kraken Custody in the UK and acquiring a Dutch crypto broker in 2014.
The European cryptocurrency market, currently valued at $7 billion, is expected to grow by 15% by 2030.