Kraken obtains a license in Cyprus and expands its derivatives business in the EU

ChainCatcher news, according to The Block, cryptocurrency exchange Kraken has officially expanded its derivatives business across the EU by acquiring a licensed institution in Cyprus to obtain a European Union Markets in Financial Instruments Directive (MiFID) license.

The head of the exchange's derivatives business, Alexia Theodorou, previously revealed that derivatives trading accounted for half of its total trading volume. This expansion allows Kraken to offer compliant derivatives services to users in the European Economic Area (including the 27 EU countries as well as Iceland, Liechtenstein, and Norway).

In May of this year, Kraken launched similar products for qualified investors under the regulation of the UK's Financial Conduct Authority (FCA).