Kraken, a cryptocurrency exchange with a rather robust standing in the European market, has indicated plans to diversify, with intentions to leverage
The US-listed stock and ETF trading services are a longer-term goal, expected in 2024. For the shorter term, the crypto exchange, led by CEO Jesse Powell, will be debuting a qualified custodian for institutional clients within the week. This custodian is expected to be independent of Kraken. Notably, the platform has already applied for an approval from the state of Wyoming.
Meanwhile, the exchange recently secured regulatory approvals for its European expansion plans with intentions to offer fiat and crypto-related services. Beyond Europe, it also has an E-Money Institution license from the Central Bank of Ireland and is recognized in Spain as a Virtual Asset Service Provider .The developer or creator of each cryptocurrency decides on the total number of tokens that can be minted or issued.
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