- Kraken has secured a MiCA licence from Ireland’s Central Bank to operate across the EU
- The company has also launched Krak, a peer-to-peer payments app supporting crypto and fiat in over 110 countries
- Kraken has expanded services to include over 300 assets via Krak and plans further features like cards and loans
Kraken has strengthened its position in Europe by securing a Markets in Crypto-Assets (MiCA) licence through Ireland’s Central Bank, enabling it to provide regulated crypto services across the 30 countries of the European Economic Area. The announcement comes hot on the heels of Coinbase achieving its own MiCA license through Luxembourg, meaning that two of the biggest crypto exchanges are now fully regulated in Europe. Simultaneously, Kraken has launched Krak, a new P2P payments app that supports over 300 currencies, including both crypto and fiat, and functions in more than 110 nations.
Kraken Celebrates Europe “Passport”
Kraken’s receipt of the EU-wide MiCA licence represents what the company called a “pivotal milestone in our European expansion”; now regulated under the Markets in Crypto‑Assets framework, the exchange can “passport” its services, which include spot trading, custody, portfolio management, and payments, across all EEA member states without needing separate national approvals
In a blog post announcing the license, Co‑CEO Arjun Sethi emphasised that securing this licence from Ireland’s Central Bank is “a powerful signal of Kraken’s commitment to expanding the crypto ecosystem through responsible innovation.” He also praised Ireland’s approach to crypto, calling the collaboration between the two “a blueprint for how public and private sectors can work together to build a more secure, innovative financial future for Europe.”
Dealing Out the Krak
In tandem with its regulatory success, Kraken has debuted Krak, a peer-to-peer app allowing instant transfers of crypto and fiat across 110+ countries. Users can transact in more than 300 assets, including stablecoins and local currencies, all without bank account registration, just a “Kraktag” username. As Sethi explained, “We’re able to move money across borders right off the bat, because that’s what we do from a trading perspective…our customers just wanted to do more with their money.”
Introducing @Krak. The money app for people who want more.
More ways to pay
More freedom to send
More opportunities to grow
More rewards and money in your pocketGet Krak 👇https://t.co/iGnDkIQmVb pic.twitter.com/fwac24S2XR
— Krak (@Krak) June 26, 2025
With regulatory and technical foundations in place, Kraken is poised to evolve Krak into a comprehensive fintech platform, with future plans including issuing physical and virtual payment cards, offering lending services, and leveraging its existing licensing infrastructure, built over a decade of global operation.
