Following this announcement, the new Electronic Money Institution authorisation is set to accelerate the company’s development plans, as well as unlock new opportunities to launch more products and services for customers and partners in the UK. In addition, the EMI licence will strengthen Kraken’s position in the UK by allowing the firm to issue electronic money, facilitating faster deposits and withdrawals for users. This initiative serves as a first step for future development while designing several opportunities to build collaborations with multiple traditional financial institutions as well.
Kraken is also currently preparing to go public amid a friendly regulatory climate in the US. According to officials of the company, the company aims for an IPO as soon as Q1 2026, but the plans could still change before then.
According to officials of the company, Kraken has plans for UK users and customers that are set to unlock a wave of demands for crypto-powered financial solutions that showcase real utility for UK investors. The EMI licence in the UK will enable the firm to accelerate its ongoing commitment to offer robust security and compliance protocols, as well as ensure that it meets the Financial Conduct Authority’s regulatory standards. This will also drive innovation and development in the UK crypto ecosystem.
This initiative comes at a pivotal moment in the UK, as more customers are diversifying into crypto as part of a broader portfolio. According to a FCA research published in November 2024, data shows that over seven million adults in the UK, representing roughly 12% of the adult population, currently own crypto, with both awareness and average portfolio values increasing year-over-year.
In the following months, Kraken aims to launch multiple crypto and fiat products that were designed to provide clients in the region with the possibility to build wealth through the use of crypto, as well as unlock accessible ways for them to leverage all the assets in their Kraken account as a source of liquidity.
According to Bloomberg, the EMI authorisation comes as the firm prepares for an IPO in Q1 2026. Kraken had plans to go public before, but the strategy was delayed in part by regulatory enforcements against the company. As President Donald Trump has been supportive of the crypto industry, Kraken will continue to pursue public markers as it will benefit its clients, partners, and shareholders.
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