Kraken and MEXC partner to migrate Netherlands clients

• Partnership: We’re partnering with MEXC. They’re referring users in the Netherlands, including spot and derivatives clients, to us as they wind down their Netherlands offering.
  
• Regulatory footprint: We’ve held MiCA authorization through the Central Bank of Ireland (CBI) since June 2025, along with MiFID authorization from CySEC for derivatives and an E-money authorization from the CBI, giving us one of the deepest regulatory footprints of any crypto platform in Europe.
  
• What referred clients get: A single licensed venue spanning more than 600 crypto assets, tokenized equities, and perpetual futures, with EUR fiat rails and quarterly independently verified Proof of Reserves.
  
• Transition support: Both companies will provide referral and transition-related support to help affected users move to us with minimal disruption.

We’re partnering with MEXC as they refer users in the Netherlands, including spot and derivatives clients, to us. The arrangement supports affected clients as MEXC winds down its offering in the Netherlands as part of a broader realignment of its regional strategy.

We’ve held MiCA authorization through the Central Bank of Ireland (CBI) since June 2025, alongside a MiFID authorization from CySEC for derivatives and an E-money authorization from the CBI, making ours one of the deepest regulatory footprints of any crypto platform operating in Europe. We’re also among a limited number of platforms in Europe authorized under both MiCA and MiFID, giving clients a single, licensed venue for both spot and financial instruments.

Arjun Sethi, Co-CEO of Kraken and Payward: “Markets consolidate toward fewer venues that do more. A significant share of platforms are expected to exit the EU or restrict services, and liquidity concentrates on the venues that remain. We built Payward for this early: a multi-product, multi-asset group with e-money licenses, MiCA authorization held since June 2025, and MiFID authorization across the EEA. Clients who choose Kraken get one platform spanning more than 600 crypto assets, tokenized equities, and perpetual futures, with EUR rails and quarterly independently verified Proof of Reserves.”

Robert MacDonald, Chief Compliance Officer of MEXC: “Our priority throughout this transition is to ensure that affected users are supported through a clear and orderly process. By working with Kraken, we are providing eligible users in the Netherlands with an established alternative as we adjust our service availability in the market. We remain focused on minimizing disruption and supporting users throughout the transition.”

We’re authorized and regulated across multiple EU frameworks, publish independently verified Proof of Reserves each quarter, and support more than 600 assets with EUR fiat rails for our EEA clients. MEXC will also provide transition-related support to referred clients during the process.

Investment services, ancillary services and investment activities (the “Services”) in relation to financial instruments  are provided and carried out by Payward Europe Digital Solutions (CY) Limited (ex I.F. Greenfields Wealth Ltd) (“PEDSL-CY”). PEDSL-CY is authorised and approved by the Cyprus Securities and Exchange Commission (CySEC) for the provision of the Services with licence number 342/17. PEDSL-CY is registered in Cyprus with registered number HE 356603 and registered office at Athalassas, 62, MEZZANINE, Strovolos 2012, Nicosia, Cyprus. See Risk Disclosures here. 

These materials are for general information purposes only and are not investment or financial product advice or a recommendation or solicitation to buy or sell financial instruments or to engage in any specific trading strategy. The unpredictable nature of the  financial markets can lead to loss of funds. Tax may be payable on any return and/or on any increase in the value of your investment and you should seek independent advice on your taxation position. Geographic restrictions may apply.

Not investment advice. Crypto trading involves risk of loss. Payward Ireland Limited (PIL) and Payward Europe Solutions Limited (PESL), trading as Kraken, are regulated by the Central Bank of Ireland. E-money services are provided by PIL and spot trading services are provided by PESL.

Tokenized equities are synthetic assets that track the price of underlying equities and do not confer direct shareholder rights, equity ownership, or voting rights.

xStocks are issued by Backed Assets (JE) Limited (a Jersey private limited company) and offered to eligible Kraken customers via Payward Digital Solutions Ltd. (“PDSL”), a company licensed to conduct digital asset business by the Bermuda Monetary Authority. xStocks are not, nor will they be registered with any local securities regulators. Not available in the U.S. or to U.S. persons. Geo restrictions apply. Read Kraken’s xStocks Risk Disclosure at kraken.com/legal/xstocks as well as the Base Prospectus and related Final Terms for xStocks at https://assets.backed.fi/legal-documentation to learn more.

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