Kraken Expands U.S. and EU Presence with Strategic Acquisition of TradeStation Crypto

Kraken has acquired TradeStation Crypto, which significantly boosts its regulatory framework and market presence in the United States.

This acquisition, which was not previously announced, allows Kraken to tap into TradeStation's extensive licensing across the U.S., paving the way for expanded services and operations.

Based in Florida, TradeStation Crypto has secured numerous regulatory approvals over recent years, including money transmitter licenses.

These licenses are critical for legalizing crypto-related services across various states. However, TradeStation Crypto has had its share of challenges, such as a regulatory dispute with the U.S. Securities and Exchange Commission (SEC) over a lending service settled for $3 million.

In a broader move to embody Miami’s vision as a cryptocurrency hub, TradeStation Crypto commissioned the Miami Bull, an impressive statue unveiled in 2022 to symbolize the city's crypto ambitions.

This aligns with efforts by Miami’s Mayor Francis X. Suarez to position the city at the forefront of the crypto industry.

Kraken's expansion efforts extend beyond the U.S. to the European Union. In recent months, the firm has acquired BCM, a Netherlands-based crypto company, and secured multiple licenses across the EU.

These strategic moves are designed to strengthen Kraken’s standing and compliance in international markets.

In essence, Kraken's strategic acquisitions, including those of TradeStation Crypto, are key to its growth strategy in the U.S. and Europe.

These efforts enhance Kraken’s licensing and regulatory stature and broaden its operational scope and market reach in the increasingly competitive cryptocurrency exchange landscape.