Kraken in Talks to Obtain European Licenses in 2021

Reading Time: < 1 minute

US crypto exchange platform Kraken has just announced it plans to expand into the European market.

As said by Jesse Powell, the company’s co-founder and CEO, Kraken is working to secure licenses in Europe, thus following the example of its rival Coinbase.

Some of the jurisdictions in which Kraken could be licensed as early as this year include Malta, Luxembourg and Ireland.

Powell said in an interview in a German media outlet the exchange is negotiating with several European regulators, including those in Malta, Luxembourg and Ireland.

The company’s goal is to obtain some European license in 2021. Kraken launched its mobile app in European in January this year.

The exchange has decided to expand on the old continent shortly after its direct rival Coinbase received a crypto license from Germany’s Federal Financial Supervisory Authority (BaFin) in June.