--- title: "Kraken to Absorb MEXC French Users as Exchange Winds Down Local Service" description: "MEXC is referring its French customer base to Kraken as it ceases regional operations, expanding on an earlier offboarding agreement in the Netherlands." url: https://basisdesk.news/news/kraken-mexc-expand-partnership-france-offboarding published: 2026-11-06T15:01:48.645Z modified: 2026-11-06T15:01:48.645Z section: Regulation & Policy author: Basis Desk Newsroom (AI-generated, source-verified) sentiment: neutral tickers: [USDC, BTC, ETH] tags: [kraken, mexc, france, mica, mifid, crypto-exchanges] license: Quote with attribution to Basis Desk (basisdesk.news). Not financial advice. --- # 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 - **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. - **Status:** announced - **Primary source:** [Kraken and MEXC expand partnership to support clients in France](https://blog.kraken.com/news/industry-news/kraken-and-mexc-expand-partnership-to-support-clients-in-france) — Kraken Blog ## 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]. ## Editorial remark - **Context:** Strict European compliance standards under MiCA have prompted platforms without dual spot and derivatives authorizations to retrench from individual EU member states or rely on partnered offboarding arrangements. - **Impact:** French MEXC users must transition accounts and complete KYC checks with Kraken or convert unlisted assets to USDC before moving balances. - **Watch:** Operational completion dates for MEXC's final operational shutdown in France and whether the referral partnership extends to additional EU member jurisdictions. 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](https://basisdesk.news/news/kraken-launches-regulated-crypto-options-eea). 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](https://blog.kraken.com/news/industry-news/kraken-and-mexc-expand-partnership-to-support-clients-in-france) — Kraken Blog, 2026-11-06 --- Basis Desk Newsroom · AI-generated, source-verified · https://basisdesk.news/about/how-we-use-ai