Kraken Secures UK EMI License, Expands Crypto Services for British Users

Kraken has secured an Electronic Money Institution (EMI) license from the UK’s Financial Conduct Authority (FCA), enabling the cryptocurrency exchange to offer enhanced services for British users. With this approval, Kraken can now issue electronic money and facilitate faster deposits and withdrawals for its UK customers.

This license will also allow Kraken to establish partnerships with traditional financial institutions in the UK and launch new products specifically designed for British users. Kraken’s UK General Manager, Bivu Das, highlighted that the exchange is preparing to meet the growing demand for crypto-based financial services in the country, adding that the UK is on the verge of mass crypto adoption.

The UK has seen increasing interest in cryptocurrency investments, with over seven million UK adults (approximately 12% of the population) now owning crypto assets, according to the FCA. This trend has been reflected in Kraken’s growing GBP-denominated trading volumes, further cementing the UK as one of Kraken’s most active markets globally.

This EMI license follows Kraken’s earlier approval under the EU’s MiFID framework, allowing the platform to offer regulated derivatives to European traders. By securing regulatory compliance in both the UK and the EU, Kraken is positioning itself as a leading player in the integration of cryptocurrency with traditional finance.

Kraken has been active in the UK since 2014 and was the first major exchange to offer a BTC/GBP trading pair. With over 300 cryptocurrencies available for trading and multiple fiat onramps for British users, Kraken is continuing to expand its footprint in the country. Additionally, Kraken has partnered with UK sports brands like Williams Racing F1 and Tottenham Hotspur FC to broaden its visibility.

Looking ahead, Kraken plans to roll out new crypto and fiat products in the coming months, which will further strengthen its presence in the UK’s evolving crypto landscape.