BlockBeats News, November 4th, according to The Block, Kraken’s Derivatives Director Alexia Theodorou stated that this cryptocurrency exchange will now allow traders to use cryptocurrency as collateral on its MiFID-regulated EU derivatives platform.
This move will further enhance Kraken’s business presence in the EU. The exchange launched derivative trading services across the EU in May this year. Theodorou stated that this update also helps Kraken solidify its position as the “largest cryptocurrency perpetual futures exchange in Europe.”
She added in the call, “When we obtained MiFID regulatory approval in Europe, MiCA was not yet in effect, and there were no operational regulated European cryptocurrency custody providers. Therefore, we reached an agreement with regulators that at that stage, we could not offer cryptocurrency collateral services to clients within the European regulatory framework.”
