EU CRYPTO DERIVATIVES · KRAKEN · LAST VERIFIED
Is Kraken MiFID II-authorised for crypto derivatives in the European Union?
Kraken's European derivatives entity (Payward Europe Digital Solutions (CY) Limited) is recorded as an authorised investment firm under Directive 2014/65/EU (MiFID II), authorised by the Cyprus Securities and Exchange Commission (CySEC).
Verdict: Kraken holds a MiFID II authorisation for crypto derivatives in the EEA.
| Authorised legal entity | Payward Europe Digital Solutions (CY) Limited |
|---|---|
| Home Member State | Cyprus |
| National Competent Authority | Cyprus Securities and Exchange Commission (CySEC) |
| Authorisation reference | 342/17 |
| Authorising statute | MiFID II (Investment Services and Activities and Regulated Markets Law, transposing MiFID II in Cyprus) |
| EEA product launch | |
| Products offered to EEA users | Crypto-asset perpetual contracts (USD-margined and crypto-collateralised) and fixed-maturity futures across major crypto-asset underlyings. Marketed as 'Europe's largest regulated futures offering' by Kraken. |
Source: Kraken Blog - Kraken secures EU MiFID license (issuer-published). Verified 29 June 2026.
What can Kraken legally offer EEA derivatives users?
Payward Europe Digital Solutions (CY) Limited is authorised by the Cyprus Securities and Exchange Commission (CySEC) under MiFID II. The specific investment-service permissions held determine which products the firm can legally provide. Each permission is granted at the firm level by the national regulator.
What does this mean for me as a user of Kraken?
If you use Kraken for crypto derivatives in the EEA, you are contracting with Payward Europe Digital Solutions (CY) Limited, a Cyprus-authorised investment firm under MiFID II. That means the protections set out in Title II of MiFID II apply to your relationship: client-asset segregation under Article 16(8), a mandatory appropriateness assessment before complex products are offered to retail clients (Article 25(3)), and best-execution obligations (Article 27).
This is structurally different from the regulatory status of crypto derivatives offered globally on bybit.com, binance.com, or other non-EEA platforms. Those platforms operate under non-EEA legal entities and the MiFID II protections do not apply to your relationship with them.
What about Kraken's spot crypto business?
Kraken operates the spot crypto business through a separate legal entity: Payward Europe Solutions Limited (Ireland, CBI Registration C468360) - MiCA CASP. The MiCA authorisation covers spot trading, custody, fiat conversion, and the other crypto-asset services defined in Article 3(1)(16) of Regulation (EU) 2023/1114. It does not cover derivatives.
See the full MiCA spot profile: Kraken MiCA status →
How does Kraken compare to the other MiFID II-authorised crypto-derivative firms in our register?
As of , six firms in our v2 register hold MiFID II authorisations covering crypto derivatives in the EEA. Kraken, Coinbase, and OKX have verified live retail products; the other three hold the relevant licences with the live-status nuance explained on each profile page.
| Venue | Regulator | Authorised entity | Instruments | Live retail product |
|---|---|---|---|---|
| Bitpanda | Austrian Financial Market Authority (FMA) | Bitpanda Financial Services GmbH | Contracts for Difference (CFDs) on crypto assets, marketed by Bitpanda as Bitpanda Leverage, L-Token Long, L-Token Short, S-Token, A-Token Derivative. Bitpanda issues these products as own-account counterparty under the dealing-on-own-account leg of its licence. | Live |
| Bitstamp | Slovenian Securities Market Agency (Agencija za trg vrednostnih papirjev, ATVP) | Bitstamp Financial Services Ltd. (Slovenian: Bitstamp finančne storitve d.o.o.) | Crypto derivatives including perpetual swaps, traded on the Slovenian MTF. Per Bitstamp's October 2024 press release, this is described as 'the first time a fully MTF-regulated crypto derivatives platform will be available in the EU under MiFID II'. | Licence held, product not confirmed live |
| Coinbase | Cyprus Securities and Exchange Commission (CySEC) | Coinbase Financial Services Europe Ltd. | Crypto futures (BTC, ETH), Magnificent Seven equity-linked futures, and Crypto Equity Index futures. Up to 10x leverage. Offered via Coinbase Advanced across 26 EEA countries, margined in EUR or stablecoin. | Live |
| Crypto.com | Cyprus Securities and Exchange Commission (CySEC) | Foris Capital CY Ltd (formerly A.N. Allnew Investments Ltd, approved trade name 'Crypto.com') | All 10 MiFID Annex I Section C instrument categories per CySEC public register. Crypto.com publicly stated intent to offer 'securities, derivatives, contracts for difference (CFDs) and more' to EEA users under this licence. | Licence held, product not confirmed live |
| Kraken | Cyprus Securities and Exchange Commission (CySEC) | Payward Europe Digital Solutions (CY) Limited | Crypto-asset perpetual contracts (USD-margined and crypto-collateralised) and fixed-maturity futures across major crypto-asset underlyings. Marketed as 'Europe's largest regulated futures offering' by Kraken. | Not confirmed |
| OKX | Malta Financial Services Authority (MFSA) | OKX Europe Markets Limited | Crypto-asset based expiry futures (marketed as X-Perps - 5-year expiry, up to 10x leverage, BTC/ETH/ADA/DOGE/PEPE/LTC/PUMP/SOL/XRP/SUI launch pairs) | Not confirmed |
Not confirmed means we could not verify that field against a primary source at the time of writing, not that it is absent. Each row's authorisation is sourced on its profile page.
- OKX - MFSA Malta authorisation (OKX Europe Markets Limited); EUR-native deposit, X-Perps 5-year-expiry crypto futures. Live.
- Coinbase - CySEC Cyprus authorisation (Coinbase Financial Services Europe Ltd., CIF 374/19); crypto futures and equity index futures via Coinbase Advanced. Live.
- Crypto.com - CySEC Cyprus authorisation (Foris Capital CY Ltd, CIF 344/17); licence covers derivatives and CFDs. Live retail product not independently verified at the time of writing.
- Bitstamp - ATVP Slovenia MTF licence (Bitstamp Financial Services Ltd., granted 24 October 2024); crypto-derivatives multilateral trading facility. Live retail trading not independently verified at the time of writing.
- Bitpanda - FMA Austria MiFID II investment firm (Bitpanda Financial Services GmbH); CFDs on crypto under own-account dealing (Bitpanda Leverage, L-Tokens, S-Tokens, A-Token Derivative). Live for CFDs.
Frequently asked questions about Kraken and MiFID II
Is Kraken legally allowed to offer me crypto derivatives in the EU?
Yes. Payward Europe Digital Solutions (CY) Limited holds a MiFID II authorisation from the Cyprus Securities and Exchange Commission (CySEC), reference 342/17. The authorisation passports across all 30 EEA member states.
What protections does the MiFID II authorisation give me when I trade with Kraken?
Client-asset segregation under Article 16(8), an appropriateness assessment before complex products are offered (Article 25(3)), best execution under Article 27, and access to the home-state Investor Compensation Scheme. See the full MiFID II protections explainer.
Does Kraken require KYC and an experience check before I can trade?
Yes. MiFID II Article 25(3) requires an appropriateness assessment for retail clients trading complex products. You complete a short questionnaire on knowledge and experience. The firm records the result and uses it to determine product access.
How does The Crypto Register verify MiFID II authorisations?
Every MiFID II authorisation claim on this site is verified against at least two primary sources: the firm's own published regulatory disclosures, plus an independent regulator or press source. Our full methodology describes the verification process. Corrections welcome at our contact page.
Sources cited on this page
All facts on this page are verified against at least two primary sources per our methodology. Corrections welcome at our contact page.