Crypto.com, a mobile-first crypto exchange and payment platform, announced on May 21 that it has secured a Markets in Financial Instruments Directive (MiFID) license. This license enables Crypto.com to offer cryptocurrency financial derivatives within the European Economic Area.
According to Crypto.com's co-founder and CEO, Kris Marszalek, the company aims to provide customers across Europe with more ways to engage with its platform through these new offerings. This follows Crypto.com receiving in-principle approval to operate across the European Union under a Markets in Crypto-Assets (MiCA) license in mid-January.
Kraken, another cryptocurrency exchange, also announced the launch of regulated derivatives trading on May 20 under the European Union's Markets in Financial Instruments Directive (MiFID II). Kraken's first-quarter revenue jumped 19% year-on-year to $471.7 million following its acquisition of NinjaTrader earlier in May.
Coinbase CEO Brian Armstrong has stated that his firm will continue to look for merger and acquisition opportunities, after acquiring crypto derivatives platform Deribit. Major crypto exchange Gemini has also recently received regulatory approval to expand crypto derivatives trading across Europe.
This article is based on our author's analysis of materials taken from the following resource: Cointelegraph.