Kraken’s opt-in European wallet can expose spot holdings to futures losses

Kraken’s Unified Wallet rollout to eligible European Economic Area clients can expose crypto held for spot trading and qualifying Earn balances to futures losses after users switch it on. Its default cross-margin setting allows a losing position to draw on the account’s entire eligible balance.The exchange announced EEA availability on October 16, 2026. Unified Wallet combines eligible spot, margin, Earn and futures balances on Kraken Pro, removing the need to transfer collateral into a separate futures wallet.The announcement includes eligible Earn balances without identifying every qualifying product. Kraken’s wallet guide, which describes the default wallet setup, distinguishes active staking and Earn strategies held in an Earn wallet from Auto Earn balances remaining in Main.Activation is manual through Kraken Pro’s account settings, with eligible balances pooled immediately afterward. Futures trading must also be enabled. Kraken’s EEA derivatives requirements include account verification and, for new futures clients, a knowledge-and-experience questionnaire and a tax identification number.Kraken says more than 40 cryptocurrencies, alongside USD, EUR and gold (XAU), can serve a...