Kraken has secured authorization as an Electronic Money Institution (EMI) from the UK Financial Conduct Authority (FCA), marking a critical regulatory milestone in its expansion strategy in the United Kingdom.
Trading under Payward Ltd, Kraken is also one of 31 crypto companies listed on the FCA’s “cryptoasset register.”
Per Kraken’s official announcement, the authorization enables the issuance of electronic money, streamlining deposit and withdrawal processes for UK-based users. This approval positions Kraken to introduce additional crypto-oriented financial products targeting a growing domestic market.
The license underlines Kraken’s strategy to strengthen integration within the UK financial ecosystem. According to Kraken’s UK General Manager, Bivu Das, the EMI approval represents a foundational advancement, creating avenues to meet increasing local demand for crypto-driven financial solutions.
The decision comes amid broader market shifts in the UK, with crypto adoption gaining traction among mainstream investors. Kraken cited FCA data that indicates approximately…
