Kraken, the cryptocurrency exchange, has announced the expansion of its operations in Europe, specifically in Ireland. This comes after Kraken secured a license from the Central Bank of Ireland for a Virtual Asset Service Provider (VASP). The exchange’s new subsidiary, Payward Europe Solutions Limited, will operate in the jurisdiction.
Kraken’s VASP license signifies the exchange’s adherence to anti-money laundering and compliance standards, as well as its dedication to promoting digital asset adoption throughout Europe. This development allows Kraken to provide cryptocurrency services across the European Union.
Mark Jennings, the Head of European Operations at Kraken, emphasized the importance of clear and effective regulation for the widespread adoption of cryptocurrencies. Jennings added that the exchange is committed to collaborating with European regulators to operate compliantly under sensible, forward-looking crypto asset regulation.
Kraken’s expansion into Europe, facilitated by its Irish subsidiary, Payward Europe Solutions Limited, represents the exchange’s commitment to making innovative products and services available while working with European regulators to promote a transparent and compliant crypto industry.