Kraken has successfully obtained EMI authorization from the UK’s FCA. This is a key step to enhance its service offerings and grow its presence in the UK crypto market.

With the EMI license, Kraken can now issue electronic money, enabling faster deposits and withdrawals for users, contributing to a smoother trading experience.

Kraken’s UK General Manager Bivu Das notes that the region is approaching widespread crypto adoption, and Kraken intends to lead this transition while collaborating with established financial institutions.