Is Kraken MiCA Licensed? EU Regulatory Status and Two-Entity Structure

Yes. Kraken holds two separate MiCA CASP (Crypto Asset Service Provider) licenses from Ireland's Central Bank, both authorized on 25 June 2025. One entity covers eight MiCA crypto-asset service categories across all 30 EEA countries. The other holds a dedicated trading platform authorization. That split is unusual, and it matters for understanding exactly what Kraken can offer you and where.

Kraken's Two MiCA Licenses Explained

Kraken's European business runs through two Irish entities, each holding its own CASP authorization from the Central Bank of Ireland (CBI).

The first is Payward Europe Solutions Limited (PESL), CBI registration number C468360. This entity carries the broader license: it is authorized for custody and administration, exchange between crypto and fiat, exchange between crypto assets, execution of orders, placing of crypto assets, reception and transmission of orders, and transfer services. That is 8 of the 10 MiCA service categories. The AMF's MiCA passport entry records the authorization date as 25 June 2025, and the license is passported across all 30 EEA states.

The second is Payward Global Solutions Limited (PGSL), CBI registration number C559106. This entity holds a narrower but distinct authorization: it is licensed specifically to operate a trading platform for crypto assets. Its official record identifier in the MiCA registry is 9845003D98SCC2851458, and its authorization date is also 25 June 2025.

Two entities, two licenses, both Irish, both issued the same day.

Here's what that means in practice: when you use Kraken's spot exchange in the EU, you are contracting with a MiCA-regulated entity. When you use the trading platform specifically, that function is subject to PGSL's dedicated authorization rather than to PESL's broader license. Most exchanges obtain a single CASP authorization and operate all services through it. Kraken chose a different structure.

The company also reports holding 145 or more global regulatory permissions and more than 100 active licenses across 30-plus countries, which places it among the most heavily regulated exchanges operating in Europe.

Why Two Entities? Kraken's Regulatory Architecture

Each entity takes on a specific regulated job, so its regulator has a clear company to supervise. A CASP is a company authorized to provide crypto services under MiCA. That is the key label for following Kraken's two-entity EU setup. Different financial activities need different licenses. A trading platform matches buyers and sellers. Custody means holding client assets. Order transmission means passing a client order onward. Putting every role inside one company can spread a compliance problem across more of the business. Separate entities can limit that spillover.

The SEC's case against Payward Inc. and Payward Ventures Inc. makes the principle clear: regulators treat exchange, broker, dealer, clearing, and custody roles as distinct regulated functions. A separate entity lets each role sit under its appropriate license and named supervisor. For MiCA, PGSL's standalone authorization covers the trading platform. That gives the CBI one named entity to supervise for that function. PESL's broader license covers 8 of the 10 MiCA service categories.

Kraken uses a similar separation beyond MiCA, but that wider corporate chart does not change the point for EU customers. Check the entity named for the service you use. For a reader, the split matters when a service, disclosure, or complaint is tied to one part of the business. Say Elena sells 0.5 BTC through Kraken's spot exchange. PESL's broader authorization covers exchange and custody services, while PGSL holds the separate platform authorization. 

The service named in the agreement tells her which part of Kraken is responsible. You do not need to memorize the corporate chart before making a spot trade. Still, checking the entity name helps separate a question about the platform from one about custody, payment services, or a product that falls outside MiCA.

Kraken's Full Service List Under MiCA

Between the two entities, Kraken covers a wide range of the MiCA service catalog.

Payward Europe Solutions Limited is authorized for:

• Custody and administration of crypto assets on behalf of clients
• Exchange of crypto assets for fiat currency
• Exchange of crypto assets for other crypto assets
• Execution of orders for crypto assets on behalf of clients
• Placing of crypto assets
• Reception and transmission of orders for crypto assets on behalf of clients
• Transfer services for crypto assets on behalf of clients
• Portfolio management of crypto assets

Payward Global Solutions Limited is authorized for:

• Operation of a trading platform for crypto assets

The combined picture is a CASP structure that covers nearly the full MiCA service spectrum. Portfolio management is notable: it is one of the less common MiCA authorizations among exchanges, and its inclusion in PESL's license means Kraken can offer managed crypto-asset services to EU clients under a regulated framework.

Perpetual futures sit outside MiCA entirely. Kraken offers perps trading through a separate MiFID investment firm license with CySEC. MiCA protections do not extend to that product category.

Kraken's Trading Platform Availability Across the EEA

Both Irish CASP authorizations are passported across all 30 EEA countries. Passporting means an Irish authorization can support covered services across the wider EEA. The intake brief refers to a Cyprus-and-Ireland limitation for PGSL. The current research cited for this article instead supports EEA-wide passporting for both Irish authorizations, so this section follows that later evidence.

PGSL holds the authorization to operate the trading platform. PESL's broader license covers exchange and execution services. For an EU customer, those separate roles do not create a country-by-country split under the current EEA passporting position. Regardless of which entity serves you, the regulatory authorization sits at the exchange level. It governs how Kraken handles your assets while they are on the platform. It does not change the fact that assets held on any exchange remain under the exchange's key control, not yours.

Kraken vs Other Licensed Exchanges

Kraken is not the only MiCA-licensed exchange in Europe, but its two-entity structure is unusual. Here is how it compares to three other major licensed operators.

OKX Europe Limited holds 9 of 10 MiCA services from Malta's MFSA, including custody, trading platform, multiple exchange and execution services, placing, order reception and transmission, portfolio management, and transfer services. It also holds MiFID II and a Malta payment institution license.

Coinbase Luxembourg S.A. is authorized by Luxembourg's CSSF for 7 of 10 MiCA services: custody, fiat/crypto exchange, order execution, placing, order reception and transmission, and transfer services. Beyond its EU authorization, the company holds an FCA registration in the UK, an MSB registration with FinCEN in the US, and an AUSTRAC registration in Australia.

Bitstamp is listed among Europe's leading MiCA-regulated exchanges and is described as a long-running, fully regulated operator for EU users. Current MiCA register summaries give more detailed authorized-service breakdowns for OKX, Coinbase, and Kraken; Bitstamp's exact service count should be verified directly via ESMA's CASP register.

For an EU reader, the decision-relevant distinction is the legal setup: PGSL holds the dedicated platform authorization, whereas OKX and Coinbase list their MiCA services under a single entity. The table does not show Kraken offering a broader set of covered services than OKX.

How to Secure Your Kraken Holdings

A MiCA license sets rules for Kraken's covered services. It does not change the custody arrangement: assets held on Kraken are held by Kraken. The exchange controls the private keys.

Here's the practical issue with exchange custody: when you leave assets on any exchange, you rely on that exchange's security, solvency, and continued operation. Regulated exchanges are subject to conduct-of-business requirements and asset segregation obligations under MiCA. Those protections matter, but they do not put the keys in your hands.

Self-custody means the private key stays under your control. The key is generated on your device, signs transactions locally, and is never transmitted to a third party. An exchange hack, insolvency, or regulatory freeze cannot reach assets you hold in self-custody. The trade-off is real: a self-custody holder who loses their private key or seed phrase has no way to recover. There is no support ticket, no account reset.

Tangem Wallet offers one approach to this trade-off. It is a hardware wallet that stores private keys offline on an NFC-enabled card with a Samsung S3D350A secure element certified at Common Criteria EAL6+. The private key is generated within the secure element during setup and remains on the card. Tangem's default setup is seedless, using a multi-card backup model instead: two- or three-card sets hold identical keys, and any card provides full access.

For Kraken users who hold significant positions, the workflow is straightforward: trade on Kraken, then withdraw to a self-custody wallet for long-term storage. Its documentation explains the withdrawal process (select asset, choose network, enter the destination address, confirm). The receiving address comes from your self-custody wallet. There is no direct integration between Kraken and any specific wallet; you enter the address manually.

All Tangem cards lost with no seed phrase means the funds are permanently inaccessible. The seedless model eliminates the seed-phrase attack surface but removes the fallback.