Key notes
- Kraken obtained a MIFID license via the acquisition of a Cypriot investment company earlier this year.
- The license will give Kraken more space to extend its offer of cryptographic derivatives in the EU.
- Derivatives are now an important part of Kraken Total Trading and World Cryptography Markets.
The giant of digital asset exchanges, Kraken, has taken another stage of its global strategy. According to the exchange, he obtained regulatory approval to offer cryptographic derivatives in the European Union. This follows a license recently acquired in Cyprus.
Kraken is gaining ground on the European market
According to the announcement of the exchange, Kraken has received the green light to extend his services of cryptographic derivatives to users of the European economic space. This decision became possible after the platform acquired a Cypriot investment company earlier this year.
The acquisition granted Kraken a license to directive financial instrument markets (MIFID). This will allow the cryptocurrency entity to serve retail and institutional investors in the EU. The permit was granted by Cyprus Securities and Exchange Commission (CYSEC), marking a significant expansion for the exchange between continents.
It should be noted that this last update is part of Kraken’s recent growth strategy. In a recent report, Coinspeaker noted that Kraken now offers commission without commission to US actions and FNBs for customers in ten US states.
Again, this recent update follows a similar deployment in the United Kingdom. British officials have granted access to exchanges to start offering an exchange of regulated derivatives under the supervision of the Authority Conduct.
Now, users of EU countries, including France, Germany, the Netherlands and others, will have access to the existing Kraken set of perpetual and fixed maturity. According to the head of the Kraken Stock Exchange, Shannon Kurtas, these contracts already represent a significant volume of negotiation, estimated between $ 1 and $ 2 billion per day.
Kurtas said the emphasis is not placed on the launch of new contracts. However, they strive to improve existing products which are already well established with strong liquidity and mature markets.
She mentioned that the necessary infrastructure was already in place. This allows a drop in execution costs and greater efficiency for users who move funds in and outside the system.
Trading now derived a main company for Kraken Exchange
Cryptographic derivatives have become an important part of the world supply of Kraken. The company believes that derivatives now constitute a large part of its global commercial activity. On a larger scale, the global cryptography markets have seen derivatives dominate, representing up to 75% of the total volume.
Since the American sec abandoned his trial, Kraken has widened. Its growth includes the acquisition of cryptographic installations, a term platform based in the United Kingdom, and Ninjatrader, an American derivative platform. These movements show that Kraken aims to direct the regulated cryptographic markets.
The Crypto Exchange recently introduced its integrated application in Europe. This allows Neobanks and Fintech platforms to offer their customers trading in cash and derivatives. Large crypto companies are turning more and more towards agile jurisdictions such as Cyprus and Malta. These locations help them obtain regulatory approval more quickly.
It is essential to add that the EU is one of the fastest growth areas for digital assets. Kraken move it in a strong position to meet the growing demand of the regulated and effective derivative trading region.
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Benjamin Godfrey is a blockchain enthusiast and a journalist who savor the writing of actual applications for blockchain technology and innovations to stimulate general acceptance and global integration of emerging technology. His desire to educate people on cryptocurrencies inspires his contributions to renowned media and blockchain sites.
