Kraken, one of the largest and oldest cryptocurrency exchanges in the world, has secured a license from the Dutch Central Bank (DNB) to offer its services in the Netherlands and other European countries. This makes Kraken the first crypto company to obtain a DNB license under the new regulations that came into effect in January 2020.
The DNB license allows Kraken to operate as a regulated provider of crypto wallets and exchange services, as well as to offer other products such as futures, options, and staking. Kraken will also be able to expand its partnerships with banks and payment providers in the region, and to comply with the anti-money laundering (AML) and counter-terrorism financing (CTF) rules set by the DNB.
According to Kraken, the DNB license is a major milestone for the company and the crypto industry as a whole, as it demonstrates the growing recognition and acceptance of crypto as a legitimate and innovative asset class. Kraken also stated that it is committed to working with regulators and policymakers to foster a safe and transparent crypto ecosystem.
Kraken's CEO, Jesse Powell, said: "We are thrilled to be the first crypto company to receive a DNB license and to be able to bring our full suite of services to our European clients. This is a testament to our high standards of security, compliance, and customer service, and to our long-term vision of making crypto accessible to everyone."
Kraken has been operating in Europe since 2013, and has established a strong presence and reputation in the region. The company claims to have over 6 million clients worldwide, and to process more than $20 billion in trading volume per month. With the DNB license, Kraken aims to further grow its customer base and market share in Europe, and to offer more choice and innovation to the crypto community.