Us-based cryptocurrency exchange Kraken has confirmed its plans to launch into the European markets by the end of 2021. One of the biggest cryptocurrency exchanges, which is giving tough competition to Binance in the US, is now trying to get licensed to operate in European countries like Malta, Luxembourg, and Ireland.
In a recent interview, Kraken co-founder and CEO Jesse Powell revealed the plans. He said that they are working on getting a European license and trying to expand outside the US.
Powell also confirmed that they have been engaging with several European regulators and hopefully they will secure licenses by the end of 2021. However, they haven’t secured a license as of yet, the company has been offering limited services in some European jurisdictions.
Earlier, Coinbase, the world’s largest cryptocurrency exchange had confirmed the launch in other countries. Recently, it partnered with a banking company to offer crypto exchange services in Japan. The Coinbase subsidiary also secured a license from Germany’s Federal Financial Supervisory Authority (BaFin) in June.
Kraken is currently the fifth-largest cryptocurrency exchange. It is gaining popularity amongst US investors. Earlier this year, Kraken had cut the deposit fee to zero in its bid to entice newbie crypto investors.