Kraken to Absorb MEXC French Users as Exchange Winds Down Local Service
MEXC is referring its French customer base to Kraken as it ceases regional operations, expanding on an earlier offboarding agreement in the Netherlands.
At a glance Announced
- What happened
- MEXC partnered with Kraken to refer its French user base to Kraken as MEXC winds down its operations in France on Nov. 6, 2026.
- Why it matters
- The deal transitions retail flow to Kraken's MiCA- and MiFID-licensed platforms as European regulatory enforcement narrows options for unlicensed exchanges.
- Who is affected
- MEXC users in France, Kraken, and MEXC.
- What's next
- Affected customers must migrate their accounts through identity verification to access balances on Kraken.
- Primary source
- Kraken Blog: Kraken and MEXC expand partnership to support clients in France
Key points
- MEXC is referring its French users to Kraken as it winds down operations in France 1.
- The agreement extends a previous referral framework established between Kraken and MEXC in the Netherlands 1.
- Kraken holds MiCA and e-money permissions via Ireland alongside a CySEC MiFID license for derivatives 1.
Kraken has broadened its European referral agreement with MEXC to include France, taking on the platform's French user base as MEXC winds down regional operations, the company announced on Nov. 6, 2026 1. The move follows an initial partnership between the two cryptocurrency exchanges covering clients in the Netherlands 1.
Under the arrangement, MEXC will redirect its French customers to Kraken's European entities 1. Migrating users must complete Kraken's onboarding process, which requires identity verification and a short knowledge test, with priority processing targeted within 24 hours 1. Deposited assets supported on both exchanges can transfer directly, while unsupported tokens must be converted to $USDC prior to transfer 1. Users accessing financial instruments remain subject to jurisdictional eligibility requirements 1.
Regulatory Consolidations Across the European Union
The transition highlights a growing consolidation wave across the European Union as exchanges navigate compliance mandates. Kraken has held authorization under the Markets in Crypto-Assets (MiCA) regulation through the Central Bank of Ireland since June 2025 1. The venue also possesses an electronic money institution license from the Central Bank of Ireland through Payward Ireland Limited and a MiFID authorization through the Cyprus Securities and Exchange Commission via Payward Europe Digital Solutions (CY) Limited for derivatives offerings 1. Kraken previously deployed regulated derivative products in the region, including its regulated crypto options rollout across the European Economic Area.
Referred French clients gain access to Kraken's spot catalog of more than 600 crypto assets, over 1,000 tokenized instruments, euro fiat rails, and quarterly independently verified proof-of-reserves reports 1. Kraken and MEXC confirmed they will coordinate support during the offboarding timeline 1. At the time of writing, the broader market traded lower, with $BTC changing hands at $75,218 and $ETH at $2,220.
Sources
- [1] Kraken and MEXC expand partnership to support clients in France — Kraken Blog, November 6, 2026
Written by Basis Desk's newsroom system from the primary sources above and machine-verified against them before publication. Market figures marked "at the time of writing" come from live exchange data. Report an error: corrections@basisdesk.news · corrections policy.
The Daily Brief, in your inbox at 07:00 ET
Five stories, the numbers that moved, what to watch. Three minutes. No hype, no advice, unsubscribe in one click.
Get the big crypto stories first
A few alerts a day at most: major breaking news and the morning brief. Switch off anytime.
Not financial advice. Basis Desk publishes information, not recommendations. Crypto assets are volatile and you can lose what you invest.