Kraken’s UK unit secures FCA licence

Kraken’s UK subsidiary Crypto Facilities has received approval from the FCA to operate in the country. The The Block reports.

The licence confirms compliance with anti-money-laundering regulatory requirements. Such requirements are also observed by FCA-regulated banks.

Crypto Facilities can continue to operate in the United Kingdom as a platform for trading crypto derivatives. Other firms provide access to similar services without FCA registration.

The licence will allow Crypto Facilities to broaden its product range.

“We will be able to allow clients to take the risks that best match their investment needs”, — said Crypto Facilities CEO Gary Worrall.

Earlier in August, Kraken’s CEO Jess Powell promised to enter the European market by the end of 2021.

Follow ForkLog news on Twitter!