For the exchange Kraken, the license arrives in Cyprus. It will be able to offer Bitcoin and crypto derivatives also in Italy.
Kraken obtains a license in Europe also for crypto derivatives.
Kraken obtains a license in Europe for the offering of derivatives. This is a license that will be valid throughout the continent (and thus also in Italy) and will allow the exchange to operate within the MiFID II legal framework. This will allow for both perpetual futures and futures with expiration to be listed.
Products will be offered to both retail and institutional clients, thus completing Kraken's already particularly rich offering of services for European clients.
The licenses obtained are of the master key type, which means they are immediately operational in other Union countries as well. Kraken has obtained the license in Cyprus – traditionally the preferred jurisdiction for those offering trading products due to more flexible tax and legal conditions.
What changes now for Kraken?
With the necessary technical times, products that allow investing in derivatives with crypto or Bitcoin underlyings will be implemented on the Kraken platform – open a free account here. These are products that are very popular among traders, who find them more versatile also due to the possibility of going short.
The license was obtained through Greenfield Wealth – a company that already had a license and was acquired by the crypto exchange giant.
This is not the first group to offer this type of products. BackPack has already obtained a license (which was linked to the old European division of FTX), as well as Bitstamp and Gemini are entering the market.
The world of futures is among the most appreciated by traders, and adding it to their platform is a great attraction especially for more experienced clients/traders.
