Kraken launches a European derivatives platform to rival OKX, fueling speculation about a token debut and upcoming IPO.
With its new MiFID II-compliant crypto derivatives platform, Kraken is making a substantial drive into Europe, positioning itself as a formidable competitor to OKX as the latter considers expanding into the region. The exchange now provides perpetual and fixed-maturity crypto futures contracts to retail and institutional consumers in the European Economic Area.
It is important to note that the exchange’s European expansion is taking place in the context of rumors regarding the potential debut of a native token and an IPO.
“We are thrilled to announce the launch of regulated crypto derivatives in Europe, which will offer our clients and partners access to a comprehensive array of liquid futures instruments, all within a recognized regulatory framework,” the exchange stated in an official blog post.
The Kraken Crypto Derivatives Platform has been launched in Europe
Kraken has established the most extensive regulated crypto derivatives trading platform in Europe, as announced on May 20. The premier crypto exchange provides a comprehensive array of crypto derivatives to clients and associates in the European Economic Area (EEA) following the Markets in Financial Instruments Directive (MiFID II).
Significantly, this action follows the exchange’s acquisition of Cypriot Investment Firm, a MiFID-regulated investment firm, earlier this year. This action represents an essential milestone in the exchange’s pursuit of global expansion and establishing its European presence. The crypto exchange has further solidified its position with the crypto derivatives platform in the European market.
Shannon Kurtas, Kraken’s Head of Exchange, has stated that this strategic development has responded to the increasing demand for regulated and comprehensive crypto derivative offerings. He contended that derivatives facilitate sophisticated trading strategies and enhance capital efficiency, liquidity access, and reliability.
What is the reason for Kraken’s preference for Europe?
The exchange’s confidence in Europe is significantly influenced by the region’s expanding demand for digital assets and the crypto-friendly environment. Kurtas addressed the issue by stating,
Europe is one of the fastest-growing regions for digital asset trading and investment, with some of the most sophisticated and demanding clients and institutions. The launch of Kraken’s regulated derivatives in Europe, the largest offering of its kind, is well-timed to meet this growing demand and underscores our commitment to providing trusted, compliant access to the best markets and trading opportunities.
Top crypto exchanges, such as OKX, are investigating European opportunities and acknowledging their potential. OKX acquired a MiFID II license in March 2025, which permits the platform to provide derivatives products.
What is KRAK—A Token Launch or IPO Ahead?
Intriguingly, Kraken’s European expansion is occurring with rumors of a potential native token launch and IPO. The crypto platform recently shared a video on X to announce the acquisition of NinjaTrader, a retail trading platform.
Speculation regarding a potential token launch, IPO, or both has been spurred by the company’s use of the cryptic term ‘KRAK’, with no additional information available. Furthermore, discussions regarding an IPO have been further intensified by the exchange’s Q1 performance this year.
