We are delighted to announce that we have officially obtained an authorization from the Institution of Electronic Money (EMI) of the Financial Conduct Authority (FCA) of the United Kingdom. This important step for our operation in the United Kingdom accelerates our growth plans and unlocks opportunities to launch even more exciting products and services to meet the evolution of British customers.
Our EMI license strengthens our position on the UK market by allowing us to issue electronic money, facilitating faster deposits and withdrawals for our customers. This serves as a launch for future growth, while creating various opportunities to establish partnerships with the main traditional financial institutions.
“The United Kingdom is on the verge of the adoption of mass cryptography, and Kraken is about to show the way with advanced products. We have major plans for British users who will unlock a wave of demand for financial solutions powered by Crypto who have real use for British investors and consumers. Securing an EMI license is a fundamental step in our expansion strategy, and we are delighted to announce this authorization today, “said British director Bivu Das.
Today’s news is based on Kraken’s momentum by obtaining key regulatory approvals and licenses, including our recent EU Mifid license, which opens the way to us to serve advanced European crypto traders with an enlarged regulated derivative offer. Our EMI license in the United Kingdom also reaffirms our continuous commitment to robust safety and conformity protocols, ensuring that we meet the strict FCA regulatory standards while leading innovation in the British cryptography ecosystem.
This happens at a central time in the United Kingdom, because more and more adults are diversifying in the crypto as part of a wider portfolio. FCA research shows that more than seven million adults in the United Kingdom – around 12% of the adult population – is now possessed by crypto, both awareness and average portfolio values increasing from year to year.
This growing enthusiasm, combined with expansion and improvements in our British offer, has fueled incredible successes for Kraken in the United Kingdom:
- The United Kingdom has become one of our most active markets worldwide by commercial volume. In the United Kingdom, we offer more than 300 cryptographic active ingredients for trading.
- We were the first major exchange to provide a BTC / GBP commercial pair in 2014 and we remain a market leader in the volumes denominated by the GBP.
- We offer several pairs of trading fiat onramps and GBP, which facilitates crypto faster than ever for British customers.
- We have obtained major brand partnerships with British sports giants, including Williams Racing F1 Team and Tottenham Hotspur FC.
- In 2023 and 2024, Newsweek ranked Kraken in his 100 main British workplaces most loved.
What is the next step?
In the coming months, we will reveal several new fascinating products of cryptography and Fiat designed to allow British users to create wealth via crypto and to unlock accessible means for them to use all the assets of their Kraken account as a source of liquidity.
