We’re excited to announce we have officially secured an Electronic Money Institution (EMI) authorization from the U.K.’s Financial Conduct Authority (FCA). This important milestone for our U.K. operation accelerates our growth plans and unlocks opportunities to launch even more exciting products and services to meet the evolving needs of U.K. clients.
Our EMI license strengthens our market position in the U.K. by allowing us to issue electronic money, facilitating faster deposits and withdrawals for our clients. This serves as a launchpad for future growth, while also creating various opportunities to build partnerships with leading traditional financial institutions.
“The U.K. is on the brink of mass crypto adoption, and Kraken is poised to lead the way with industry-leading products. We have major plans for U.K. users that will unlock a wave of demand for crypto-powered financial solutions that showcase real utility for U.K. investors and consumers. Securing an EMI license is a foundational step in our expansion strategy, and we’re thrilled to announce this authorization today,” said U.K. General Manager Bivu Das.
Today’s news builds on Kraken’s momentum in securing key regulatory approvals and licenses, including our recent EU MiFID license, which paves the way for us to serve advanced European crypto traders with an expanded regulated derivatives offering. Our EMI license in the U.K. also reaffirms our ongoing commitment to robust security and compliance protocols, ensuring we meet the FCA’s stringent regulatory standards while also driving innovation in the U.K. crypto ecosystem.
This comes at a pivotal moment in the U.K., as more adults are diversifying into crypto as part of a broader portfolio. FCA research shows that over seven million U.K. adults – roughly 12% of the adult population – now own crypto, with both awareness and average portfolio values increasing year-over-year.
This growing enthusiasm, combined with the expansion and enhancements to our U.K. offering, has fueled incredible successes for Kraken in the U.K.:
The U.K. has become one of our most active markets globally by trading volume. In the U.K. we offer over 300 crypto assets for trading.
We were the first major exchange to provide a BTC/GBP trading pair in 2014 and we remain a market leader in GBP-denominated volumes.
We offer multiple fiat onramps and GBP trading pairs, making it easier than ever for U.K. clients to seamlessly access crypto.
We’ve secured major brand partnerships with U.K. sporting giants, including Williams Racing F1 team and Tottenham Hotspur FC.
In both 2023 and 2024 Newsweek ranked Kraken in their Top 100 Most Loved U.K. Workplaces.
What’s next?
In the coming months, we’ll be unveiling several exciting new crypto and fiat products designed to empower U.K. users to build wealth through crypto and unlock accessible ways for them to use all the assets in their Kraken account as a source of liquidity.
