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Central Bank of Ireland (Dublin). Credit: Alex_Mastro, Shutterstock
Kraken, a crypto exchange, has become the world’s first major platform to receive a Markets in Digital Assets (MiCA), licence from Central Bank of Ireland.
This move allows it 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 called the event “a pivotal landmark” in its expansion throughout Europe.
Kraken says that with the new licence, it is now able to scale more quickly by offering regulated service to retail and institutional customers in all 30 EEA member countries, such as Spain, France and the Netherlands. Kraken already had Virtual Asset Service Providers (VASPs) registered in several of these countries, but the MiCA license allows it to consolidate its operations under a single European structure.
Arjun Sethi said that the Central Bank of Ireland’s licence is more than a mere regulatory box-ticking. Kraken is committed to growing the crypto ecosystem by embracing responsible innovation, he stated in the company’s website. official statement.
Sethi continued to praise the reputation of the regulator, calling the CBI a “rigorous financial regulator”. He also stated that the new license reflects Kraken’s long-term goals to build trust in cryptocurrency. Sethi said, “We think trust is most valuable currency for crypto. It’s something that you earn.” He also credited IDA Ireland, the Irish government, and other public-private partners for what he called a successful model of public/private cooperation to build Europe’s financial future.
MiCA opens up the door for rapid crypto growth throughout Europe
Kraken made strategic acquisitions in the last two years that have helped it establish itself as a major player in Europe. They include Dutch crypto-broker BCM and NinjaTrader (a futures trading system). Kraken is also partnered with Mastercard, enabling crypto spending in over 150 million merchants within the EU and UK.
Trading pairs in euro have been a long-time favorite of EU users. Kraken claims that the euro represents 17,5% of all global spot fiat cryptocurrency trading volume. This is a figure that has more than doubled in the last year.
Kraken Embed, which is live at Dutch neobankbunq, also provides Crypto-as a Service. The company has said it will continue investing in localised talent and services across Europe, as the MiCA regime is implemented.
Kraken views MiCA as a way to formalise and improve high standards of regulation while providing consumers with greater protection and transparency. According to the firm, the MiCA Framework provides “added security” that all services provided will adhere to EU-wide standards.
But not everyone is convinced more regulation leads to better results. Kraken describes MiCA’s as a measure to increase trust. However, those who are against the EU approach claim that too much regulation can stifle innovations and drive smaller crypto companies out of business.
Kraken’s win in Ireland, which may be the start of a new era in Europe for digital assets, could signal a shift in the crypto sector’s reputation as a volatile and scandal-prone industry.
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