Crypto heavyweight deepens EU footprint with Central Bank of Ireland green light
A major regulatory win in Europe
Kraken has officially been granted a Virtual Asset Service Provider (VASP) registration by the Central Bank of Ireland, a move that allows the crypto exchange to legally offer digital asset services—including custody and crypto-fiat exchange—in one of Europe’s most tightly regulated jurisdictions.
🔗 Source: Finextra
The licence was issued to Kraken’s Irish subsidiary, Payward Europe Solutions Limited, and reflects the company’s continued push to prepare for full MiCAR compliance before the EU regulation becomes enforceable in December 2025.
Why Ireland matters
| Reason | Impact |
|---|---|
| Access to EU-wide market | Kraken can leverage Ireland’s EU membership to serve customers across the bloc under passporting rules. |
| Regulatory credibility | Ireland’s Central Bank is known for strict AML/CTF compliance—registration is a stamp of quality ahead of MiCAR. |
| Backup to Brexit | Since the U.K. left the EU, Ireland has become a critical launchpad for financial services aimed at continental Europe. |
This approval puts Kraken on the same footing as Coinbase, Gemini, and Ripple, which have all received VASP status in Ireland in recent years.
Kraken’s EU strategy: quietly powerful
- Earlier licences: Kraken already holds registrations in Spain, Italy and the Netherlands, and operates its European HQ in Dublin.
- MiCAR-readiness: The company has been scaling its compliance teams and product structures to match MiCAR’s strict asset, custody, and reserve mandates.
- Global presence: Kraken is active in over 190 countries, but sees Europe as a priority growth market, especially with U.S. regulatory uncertainty.
What’s next?
- MiCAR Tier 1 status: Kraken is expected to apply for the full MiCAR licence as a CASP (Crypto Asset Service Provider), which could allow it to issue and market tokens across the EU.
- Expansion into stablecoins and staking: The licence paves the way for Kraken to introduce regulated staking and euro-denominated stablecoin offerings in 2026.
- Enhanced client onboarding: With VASP status, Kraken can improve fiat on-ramps and potentially partner with local banks and fintechs under regulated conditions.
Bottom line
Kraken’s VASP registration in Ireland isn’t just a regulatory box-tick—it’s a strategic beachhead in one of Europe’s most competitive and well-regulated crypto markets. As MiCAR looms, exchanges that already speak the language of compliance will be the ones left standing.
Kraken’s message is clear: we’re not just global—we’re local, too.
