Cyprus No Longer Just CFDs: Crypto Hiring Surge Changes the Market

For many years, Cyprus has been known as a key base for CFD brokers. The system set up by the Cyprus Securities and Exchange Commission, together with access to European markets through MiFID rules, helped the island become a main centre for online trading firms.

This position is now starting to change.

New hiring data shows that cryptocurrency exchanges are growing faster than traditional brokers in the job market. A Q2 2026 report by FYI.LTD found that crypto companies now have the highest level of hiring activity in the online trading industry.

One of the most active companies is Kraken. The exchange has increased hiring in Cyprus and appears to be building a stronger local presence.

Crypto Firms Are Hiring More

The report reviewed over 2,500 job listings from more than 150 companies. It shows a clear shift. In the past, CFD brokers were the main employers. Now, crypto exchanges are taking the lead.

The data also shows changes in key locations. While Cyprus is still important, cities like Singapore and Hong Kong are becoming more visible. This reflects how crypto companies operate across different regions.

Even so, Cyprus remains a useful base for firms that want access to Europe.

Licences Drive Expansion

Krakens move into Cyprus follows a clear plan. In 2025, it bought a local broker, Greenfield Wealth. The main value of this deal was the licence it held.

This licence allows access to the European market under MiFID II rules. At the same time, Kraken also secured a licence under MiCA.

Together, these licences allow the company to offer both crypto trading and derivatives in Europe.

Other firms are using the same approach. Coinbase bought the Cyprus unit of BUX, while Crypto.com acquired AllNew Investments, which operates LegacyFX.

These deals show a clear trend. Instead of applying for new licences, crypto firms are buying companies that already have them. This saves time and allows faster expansion.

Competition for Workers

Krakens hiring shows that crypto firms are not only expanding but also competing directly with brokers.

Many of its job openings in Cyprus are for senior roles, including compliance and management positions. At the same time, a large number of roles are in technology.

Across the industry, about one-third of all job openings are in IT. Skills such as programming and cloud systems are in high demand. In contrast, tools linked only to brokerage platforms appear less often.

This shows that firms now value general tech skills more than industry-specific tools.

Growing Focus on AI

Another key trend is the rise of artificial intelligence. Around 20% of all job listings in the report mention AI.

This is a sharp increase compared to earlier data. The report suggests that crypto companies are leading this change, using AI in both their products and internal systems.

Cyprus Is Changing

The CFD sector in Cyprus is still active. Hiring by brokers has fallen slightly, but this seems to be part of normal business changes rather than a major decline.

However, the market is no longer the same. Crypto firms are entering with different needs, higher budgets, and a stronger focus on technology.

They are hiring from the same talent pool as brokers, which increases competition.

What Comes Next

It is still unclear whether crypto firms will build long-term operations in Cyprus or move elsewhere later. For now, they are using the island as a quick way to enter the European market.

What is clear is that the industry is changing. Crypto and traditional trading firms are no longer separate. They are now operating in the same space and competing for the same people.

For Cyprus, this marks an important shift. The island is still a key trading hub, but its role is evolving.