Top-tier crypto exchange platform from America Kraken is reportedly planning to establish its official presence across the EU market, following the precedent move from its competitor Binance. 

Specifically, Kraken co-founder and current Head, Jesse Powell, reportedly shared that the company is spending extensive efforts to acquire a European license, eyeing a regulatory greenlight from a variety of local jurisdictions already in 2021. 

Powell further disclosed that Kraken has reportedly been holding discussions with numerous European regulators, across different nations, nominally Malta, Luxembourg, and Ireland – which are the top three jurisdictions with the highest likelihood to grant the crypto entity its desired license.

The CEO additionally shared that no official decision has been made by Kraken, in terms of its potential European regulatory jurisdiction. Regardless, the firm still put down the goal of securing a license before 2021 concludes. 

Kraken has initially made a few offerings available to European nations, rolling out the Kraken mobile app in Europe in January this year. 

Kraken – currently among the top major crypto exchanges throughout the globe – have established its footprints across approximately 190 jurisdictions globally. 

“We currently offer access to our European clients via our UK FCA registered entity and comply with the applicable 5AMLD requirements. We are actively exploring multiple options to remain compliant both now and in the future, including by actively working to obtain various European licenses”

The initiative reportedly surfaced following Coinbase’s European branch recently acquiring a crypto license from Germany’s Federal Financial Supervisory Authority (BaFin) in June.