On May 20, cryptocurrency exchange Kraken announced the launch of regulated derivatives trading on its platform under the European Union’s Markets in Financial Instruments Directive (MiFID II).Like Crypto.com, a Cyprus-based entity played a role in the strategy, with Kraken relying on MiFID II-regulated entity Payward Europe Digital Solutions to offer its derivatives.
According to a May 21 announcement, Crypto.com secured a Markets in Financial Instruments Directive (MiFID) license.“We have already expanded our brand presence in Europe since receiving our MiCA licence and we now look forward to providing customers across the region even more ways to engage with our platform through these new offerings,” said Crypto.com’s co-founder and CEO, Kris Marszalek.Source: Crypto.comThe announcement followed Crypto.com receiving in-principle approval to operate across the European Union under a Markets in Crypto-Assets (MiCA) license in mid-January.
Major crypto exchange Gemini has also recently received regulatory approval to expand crypto derivatives trading across Europe. Lastly, decentralized finance platform Synthetix will also venture further into crypto derivatives with plans to re-acquire the crypto options platform Derive.Crypto.com has made its fair share of acquisitions.
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Author / Journalist: Cointelegraph by Adrian Zmudzinski
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