Kraken Expands in Cyprus, Sees Island as Fintech Hub
Stavros Vassiliades, COO of Payward Europe Digital Solutions (CY) Ltd., discussed the role of Cyprus in the European fintech market. He noted that regulated digital finance can become a new pillar of the Cypriot economy, alongside tourism and shipping.
Kraken, one of the largest digital asset platforms, has its CySEC-regulated Cypriot Investment Firm at the centre of its European derivatives business. The company's MiCA hub, authorised by the Central Bank of Ireland, is responsible for spot crypto trading in the EU.
Vassiliades emphasized that Cyprus offers regulatory clarity, talent, and a supervisor that engages substantively and constructively. He highlighted the benefits of MiFID II and MiCA frameworks, which enable European regulators to apply the right level of protection to the right product.