USDNew Crypto Licenses Weekly Mark Big Wins for Kraken, Crypto.com, BTCS
Revolut to Invest $1.1 Billion in France, Seeks Local Banking Licence
Revolut Ltd, the UK-based fintech, plans to invest over €1 billion ($1.1 billion) in France over the next three years while seeking a local banking licence. This initiative aims to enhance its presence in Europe, especially as France now has the largest user base within the EU. Revolut will establish its Western European headquarters in Paris, creating at least 200 new jobs. Currently, the firm has 300 employees and 5 million users in France, targeting 10 million by 2026. Founded in 2015, it has 55 million global customers and reported $4.1 billion in revenue last year.
Bitcoin Suisse Secures In-Principle Approval to Expand Crypto Services in Abu Dhabi
Bitcoin Suisse (BTCS) has received in-principle approval from Abu Dhabi's Financial Services Regulatory Authority to operate in the Abu Dhabi Global Market through its subsidiary, BTCS Middle East Ltd. This approval enables BTCS to offer regulated crypto financial services, including trading of virtual assets and derivatives. The company, holding over $6 billion in digital assets and $2.6 billion in institutional staking, aims for full licensing to expand its services in the growing Middle Eastern financial center. BTCS seeks to replicate its Swiss success internationally, highlighting high demand for crypto services in the region.
Kraken Launches Europe's Largest Regulated Crypto Derivatives Offering from Cyprus
Kraken has launched Europe’s largest regulated crypto derivatives offering, enhancing its market position in the region. Available to eligible clients in the European Economic Area (EEA), the suite includes liquid futures instruments—both perpetual and fixed maturity contracts—compliant with MiFID II. This initiative is supported by a MiFID-regulated investment firm acquired by Kraken, providing institutional-grade infrastructure, strong local fiat support, and flexible collateral options. Shannon Kurtas, Kraken’s Head of Exchange, noted the importance of the launch in meeting increasing digital asset trading demand in Europe, with derivatives offered through the Cyprus-based Payward Europe Digital Solutions (CY).
Crypto.com Secures MiFID License to Offer Crypto Derivatives in Europe
Crypto.com has secured a MiFID license to offer cryptocurrency financial derivatives in the European Economic Area, enhancing its European presence after obtaining a MiCA license in January. The announcement highlights the company's strategy to expand offerings, with CEO Kris Marszalek emphasizing increased engagement for customers. This move follows Kraken's recent launch of regulated derivatives trading and reflects a growing interest in crypto derivatives, as seen by Coinbase’s acquisition of Deribit and Gemini’s expansion efforts. Crypto.com has a history of acquisitions, including Fintek Securities and Watchdog Capital, solidifying its position in the evolving crypto market.
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