MEXC Leaves the Netherlands: Kraken Partnership Absorbs Customers

Kraken absorbs MEXC's Dutch customers in what is expected to be an increasingly marked consolidation of the European crypto market. The Kraken MEXC partnership stipulates that MEXC will direct its users in the Netherlands, both spot and derivatives, to Kraken, while closing its offerings in that market as part of a broader realignment of its regional strategy.

Kraken and MEXC Join Forces to Migrate Customers in the Netherlands

The agreement stems from a unilateral decision by MEXC: to withdraw from the Dutch market and entrust its users to a partner already established from a regulatory standpoint. This is neither a merger nor an acquisition, but a referral mechanism designed to limit the collateral damage of a market exit.
Summary

• Context of the collaboration
• User migration and support during the transition
• Overview of MiCA and MiFID licenses
• Importance of Kraken's regulatory position
• Asset offerings and trading tools
• Transparency guaranteed by Proof of Reserves
• Why is MEXC transferring its Dutch customers to Kraken?
• What regulatory licenses does Kraken hold to operate in Europe?
• What benefits do transferred customers receive on Kraken's platform?
• How will MEXC support customers during the migration?

Context of the Collaboration {#Context_of_the_Collaboration}

MEXC has decided to reduce its presence in the Netherlands, a choice that is part of a broader process of reviewing its regional strategy in Europe. Rather than leaving users without alternatives, the exchange has chosen to direct them to a platform already authorized to operate in the area. This dynamic is not isolated: it reflects a trend that the sector has been observing for some time, with regulated crypto platforms becoming the decisive criterion for remaining competitive in the European market.

User Migration and Support During the Transition {#User_Migration_and_Support_During_the_Transition}

Both companies have confirmed that they will provide support during the migration of Dutch customers, aiming to minimize disruptions for those using MEXC. Robert MacDonald, Chief Compliance Officer of MEXC, stated that the company's priority during this transition is to ensure a clear and orderly process for the affected users, offering them a solid alternative while the exchange adjusts its service availability in the Dutch market.

Kraken's Authoritative Regulatory Approvals in Europe

Kraken can rely on a regulatory framework that few competitors can replicate in Europe, which explains why it has become the natural destination for users exiting other platforms.

Overview of MiCA and MiFID Licenses {#Overview_of_MiCA_and_MiFID_Licenses}

As of June 2025, Kraken holds the MiCA Europe authorization through the Central Bank of Ireland. This is complemented by a MiFID authorization issued by the Cyprus Securities and Exchange Commission for derivatives, and an E-money authorization also granted by the Central Bank of Ireland. These are three distinct regulatory levels covering spot, financial instruments, and electronic money services under the same corporate group.

Importance of Kraken's Regulatory Position {#Importance_of_Kraken's_Regulatory_Position}

This combination of licenses makes Kraken's regulatory infrastructure one of the most robust among active crypto platforms in Europe. The company is among the few operators authorized under both MiCA and MiFID, a factor that offers customers a unique access point for both digital assets and regulated financial instruments.

Arjun Sethi, Co-CEO of Kraken and Payward, framed the move within a broader market perspective: he believes that markets are consolidating towards fewer platforms capable of offering more services, with a significant share of exchanges expected to exit the EU or limit their services, pushing liquidity towards those who remain. Kraken, he added, has been built in anticipation of this scenario, with e-money licenses, the MiCA authorization held since 2025, and the MiFID authorization valid across the EEA.

Here emerges the central point for observers of the sector: when an exchange leaves a European market, users do not simply remain without service, but are channeled towards those who already have the compliance infrastructure ready. This phenomenon further strengthens already authorized platforms, creating a concentration effect that is unlikely to reverse in the short term.

Platform Features and Benefits for Migrated Clients

For those coming from MEXC, the transition to Kraken means accessing a broader ecosystem under a single license, with tools that go beyond simple spot trading.

Asset Offering and Trading Tools {#Asset_Offering_and_Trading_Tools}

Kraken offers a single platform with over 600 crypto assets, as well as tokenized equities and perpetual futures. Transferred users will also have access to EUR rails for fiat currency deposits and withdrawals, a detail not to be overlooked for those operating in the European market and needing direct links to the traditional banking system.

Transparency Guaranteed by Proof of Reserves {#Transparency_Guaranteed_by_Proof_of_Reserves}

Kraken publishes a quarterly independently verified Proof of Reserves, a transparency tool that allows customers to verify the actual coverage of the custodial funds. This type of crypto transition support, combined with periodic verification of reserves, represents one of the main arguments with which Kraken presents itself to users arriving from MEXC.

It should be noted that investment services related to financial instruments are provided by Payward Europe Digital Solutions (CY) Limited, authorized by CySEC. The tokenized equities, including xStocks issued by Backed Assets (JE) Limited, are synthetic assets that replicate the price of the underlying securities without conferring direct equity ownership rights or voting rights, and are not registered with local securities regulators. Some assets, including xStocks products, are not available in the United States or to U.S. persons, and geographical restrictions may apply.

FAQ

Why is MEXC transferring its Dutch clients to Kraken? {#Why_is_MEXC_transferring_its_Dutch_clients_to_Kraken}

MEXC is closing its offering in the Netherlands as part of a broader realignment of its regional strategy and directs customers to Kraken to ensure continuity of service.

What regulatory licenses does Kraken hold to operate in Europe? {#What_regulatory_licenses_does_Kraken_hold_to_operate_in_Europe}

Kraken has the MiCA authorization through the Central Bank of Ireland since June 2025, the MiFID authorization from CySEC for derivatives, and the e-money authorization from the Central Bank of Ireland.

What benefits do transferred clients receive on the Kraken platform? {#What_benefits_do_transferred_clients_receive_on_the_Kraken_platform}

Clients directed to Kraken access a licensed platform offering over 600 crypto assets, tokenized equities, perpetual futures, EUR rails, and independently verified Proof of Reserves every quarter.

How will MEXC support clients during the migration? {#How_will_MEXC_support_clients_during_the_migration}

MEXC is committed to providing clear and orderly support throughout the customer migration process, aiming to minimize service disruptions.

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