KuCoin Files For MiCAR License In Austria As Exchange Plans To Expand In Europe
KuCoin Files MiCAR Application As It Sets Its Eyes On The European Market
The exchange aims to open its European branch, KuCoin EU, which will be headquartered in Austria if the application is granted.
After receiving the license, Kucoin EU will leverage the brand name of its parent exchange aiming to offer secure and innovative crypto products and services to EU/EEA customers.
Crypto veteran executives, Oliver Stauber and Christian Niedermueller, will join the KuCoin EU exchange as CEO and COO, respectively.
In an announcement this week, KuCoin exchange, a leading platform for trading crypto, filed an application for a MiCAR license in Austria, as it plans to open its European wing, Kucoin EU Exchange GmbH. The application, if received, will allow the new entity to offer regulated crypto services to European citizens in the EU and the European Economic Area (EEA).
According to the team statement, the latest application underscores KuCoins commitment to meeting the highest standards of regulatory compliance, as the exchange aims to grow its market share in the EU/EEA region.
Speaking on the application of KuCoin EU in Austria, KuCoins CEO BC Wong, explained the exchanges commitment and mission to be compliant and improve user experience around the EU region. In addition, Wong believes the choice to move to Vienna, Austria binds well with KuCoins strategic goals to enter Europe and the steps the country is taking to become a bedrock of crypto in Europe.
This marks a significant milestone in our steadfast commitment to executing a global, compliant strategy. Upon receiving a MiCAR license, we will enter the EEA market, which we deem strategically important, BC Wong shared. By advancing our compliance efforts, we are poised to better serve local users with more convenient, secure, and seamlessly localized products and experiences.
Introduced in 2020 by the European Commission, the MiCAR regulation aims to create a harmonised European regulatory framework for public offering and provision of services in relation to crypto-assets in the European Union. KuCoin EU receiving this license will allow the exchange to offer crypto services to customers across all EU and EEA member countries. This will ensure consistent access to crypto products and services while following a robust regulatory framework.
The registration of KuCoin EU will follow the parent companys ethos of fostering transparency, trust, and accountability in administering best-in-class digital asset services, offering users a secure and compliant trading platform.
We remain dedicated to fostering a transparent, responsible, and sustainable global digital asset ecosystem, Wong added.
Crypto Veterans Join KuCoin EU as Executives
To ensure a smooth transition into the European market, KuCoin EU will be headed by two former exchange executives Oliver Stauber, former General Counsel and Managing Director at Bitpanda and Christian Niedermueller, former CEO of Blocktrade SA, a digital assets exchange based in Luxembourg. The two will lead KuCoin EU as Managing Directors, with Oliver being CEO and Christian as the COO. Both are seasoned veterans in leading digital exchanges and will bring their wide expertise in financial market regulation and crypto exchange management, to streamline the launch of KuCoin EU.
Speaking on the appointment, Oliver Stauber, CEO of KuCoin EU, believes his expertise will strengthen the exchanges position in the European market and ensure a successful and regulatory-compliant business operation.
At KuCoin EU, our mission is clear: to create Europes premier, regulatory-compliant crypto asset service provider, Oliver Stauber stated. Upon receiving the MiCAR license we are committed to delivering secure, compliant, and cutting-edge crypto solutions that will redefine trust and innovation in the EUs fintech arena.
Christian believes the team assembled to lead the new exchange is up to the task, as they aim to grow Kucoins brand and market share in Europe. Speaking on his appointment, Christian stated:
After having scaled up another European exchange and having my toes in the digital asset industry now for more than 9 years, I am very happy to help bring KuCoin to the next level in Europe. We aim to build a fantastic local team, have a sophisticated localized operational & product setup and also strengthen brand awareness massively in the years to come.
KuCoin EU Set To Be Headquartered In Austria
Austria is quickly becoming a hotbed for crypto exchanges and platforms looking for registration in the EU/EEA market with Bitpanda receiving its license in the country. KuCoin EU becomes the latest crypto firm to move its operations to Vienna, Austria, citing the city as a strategic hub for all European activities. According to the team, Austria presents a fresh market for crypto following the recent implementation of the MiCAR accompanying laws, the stable and foreseeable regulatory environment as well as the huge talent pool.
The move to Austria will allow KuCoin EU to challenge for market share in the European market while offering access to a wide range of digital assets while ensuring compliance with EU regulations.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Text source: Crypto Daily™
