UK approves Kraken as electronic money institution for crypto innovation
UK approves Kraken as electronic money institution
Kraken, one of the world’s leading cryptocurrency exchanges, has been officially approved as an Electronic Money Institution (EMI) by the UK’s Financial Conduct Authority (FCA).
The new regulatory status will allow Kraken to expand its fiat and crypto services in one of the most active digital asset markets globally, according to Cryptopolitan.
Strengthening UK crypto access
With the EMI license, Kraken can now offer enhanced financial products tailored to UK users. The exchange has long supported GBP trading, with multiple direct fiat on-ramps. The new authorization will further streamline payments and improve liquidity options, reinforcing Kraken’s position as a key player in the UK’s growing crypto market.
"The UK is on the brink of mass crypto adoption, and securing this EMI license is a foundational step in our expansion strategy," said Bivu Das, Kraken’s UK General Manager. The company estimates that over 7 million Britons, or approximately 12% of the adult population, are crypto investors.
Kraken’s licensing comes at a time of evolving regulatory frameworks for digital assets. While the FCA is set to introduce stricter stablecoin regulations in 2025, the UK remains a more flexible environment compared to the European Union, where Kraken recently obtained a MiFID license for derivatives trading.
Despite its 10th-place ranking among global exchanges by trading volume, Kraken remains a significant fiat off-ramp, particularly for USDT and USDC stablecoin transactions. The EMI license strengthens its ability to provide regulated services in an increasingly scrutinized sector.
With this latest approval, Kraken continues to align with regulators while advancing its mission to facilitate secure and compliant cryptocurrency adoption.
Meanwhile, Kraken Exchange recently donated $111,111 in Bitcoin to Ross Ulbricht after his release from prison. Ulbricht, the Silk Road founder, was granted a full pardon by President Trump after serving 12 years.
