Kraken has obtained an Electronic Money Institution (EMI) licence from the UK's Financial Conduct Authority (FCA), allowing it to issue electronic money and improve deposit and withdrawal services for British customers.

The approval enables the exchange to strengthen ties with traditional financial institutions and expand its offerings in one of its most active markets.

FCA's decision comes amid rising crypto adoption in the UK, with over seven million adults now holding digital assets. Kraken has reported increased trading volumes in GBP, further cementing its role in the country's expanding crypto economy.

The approval follows Kraken's recent authorisation under the EU's MiFID framework, positioning the company as a key bridge between crypto and traditional finance across Europe.

Kraken has been active in the UK since 2014, becoming the first major exchange to introduce BTC/GBP trading pairs. Today, it supports over 300 cryptocurrencies and collaborates with major UK sports brands such as Williams Racing F1 and Tottenham Hotspur FC.

Looking ahead, the company plans to launch new crypto and fiat products for UK users, further enhancing its platform.

The exchange is also preparing for a potential initial public offering (IPO) in 2026, encouraged by what it sees as a more favourable regulatory climate.

Meanwhile, Kraken has successfully reached an agreement with the US Securities and Exchange Commission (SEC) to dismiss a lawsuit against it, securing a legal victory without penalties or changes to its business operations.

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