Cryptocurrency exchange Kraken is expanding its European derivatives offering, allowing traders to leverage cryptocurrencies as collateral for perpetual futures contracts throughout the European Economic Area (EEA). This move, announced on November 3, 2025, builds upon Kraken’s May 2025 launch of a derivatives platform initially restricted to fiat-based collateral. The new feature operates under the MiFID and MiCA regulatory frameworks, supported by licenses from the Central Bank of Ireland and its MiFID-regulated entity in Cyprus. This dual compliance structure enables Kraken to offer crypto-collateralized derivatives trading within the EU, marking a first among major global exchanges operating with full regulatory oversight.