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The move gives it a regulatory green light to offer crypto services across the entire European Economic Area.

The licence, announced on June 25, 2025, allows Kraken to operate under a single EU-wide framework – a significant step as the bloc rolls out its new MiCA regime aimed at standardising crypto regulations and boosting investor protections. Kraken described the moment as “a pivotal milestone” in its expansion across Europe.

According to Kraken, the new authorisation means it can now scale faster by providing regulated services to both retail and institutional clients in all 30 EEA countries, including Spain, France, the Netherlands, and Poland. While it already held Virtual Asset Service Provider (VASP) registrations in several of these nations, the MiCA licence allows Kraken to consolidate operations under a unified European structure.

Arjun Sethi, Kraken’s co-CEO, said the licence from the Central Bank of Ireland is more than just regulatory box-ticking. “It’s a powerful signal of Kraken’s commitment to expanding the crypto ecosystem through responsible innovation,” he said in the company’s official statement.

Sethi went on to praise the regulator’s reputation, calling the CBI “a rigorous financial regulator” and stating that the new licence reflects Kraken’s long-term goal to build trust in crypto. “We believe trust is the most valuable currency in crypto, and it’s something you earn,” he added. He also credited the Irish government and IDA Ireland for supporting what he called a model of public-private cooperation in building Europe’s financial future.

Kraken has made key strategic acquisitions over the past two years to position itself as a serious player in Europe. These include Dutch crypto broker BCM and NinjaTrader, a futures trading platform. Kraken has also partnered with Mastercard to enable crypto spending at over 150 million merchants across the EU and UK.

The platform’s euro-denominated trading pairs have long made it a popular choice for EU users. According to Kraken, the euro now makes up 17.5 per cent of global fiat spot crypto trading volume. A figure that’s more than doubled over the past year.

In addition, Kraken has rolled out Crypto-as-a-Service tools through “Kraken Embed,” which is already live with Dutch neobank bunq. The company says it will continue to invest in localised services and talent across Europe as the MiCA regime rolls out.

Kraken sees MiCA as an opportunity to formalise high regulatory standards while giving consumers more protection and transparency. According to the company, the MiCA framework provides “added assurance” that all services offered will adhere to consistent EU-wide rules.

Still, not everyone is convinced that more regulation means better outcomes. While Kraken presents MiCA as a trust-building measure, critics of the EU’s approach argue that overregulation may stifle innovation and push smaller crypto firms out of the market entirely.

As the crypto sector tries to shake off its reputation for volatility and scandal, Kraken’s win in Ireland may signal the beginning of a new, more structured era for digital assets in Europe.

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