Kraken, a leading US-based crypto exchange, is making moves to expand its presence in Europe by acquiring the Dutch crypto broker Coin Meester B.V. (BCM). This strategic decision aims to strengthen Kraken’s position in the European market, as outlined in a recent press release.
The acquisition of BCM, a well-established registered crypto broker in the Netherlands, marks a significant milestone for Kraken. With this move, the exchange has not only expanded its Dutch footprint but also gained a registered Virtual Asset Service Provider (VASP) in France and Poland. This acquisition comes on the heels of Kraken obtaining its VASP registration from the Dutch Central Bank earlier this year, enabling the exchange to offer its services in the Netherlands.
Kraken’s VASP registration now spans across multiple European countries, including Germany, Spain, Italy, Belgium, Ireland, France, and Poland. This expansion aligns with Kraken’s growth strategy in Europe, positioning the exchange as a key player in the region ahead of the implementation of Markets in Crypto-Assets (MiCA) regulations.
Brian Gahan, Kraken’s Managing Director of Europe, emphasized the significance of the BCM acquisition in the exchange’s European expansion. He highlighted Kraken’s ability to combine global scale with regulatory compliance and a superior client experience. Gahan expressed confidence that Kraken’s clients would benefit from the enhanced trading and investing experiences offered by the exchange, unlocking the full potential of cryptocurrencies.
In conclusion, Kraken’s acquisition of BCM underscores the exchange’s commitment to expanding its presence in Europe and providing top-notch services to its clients. With a strong foothold in key European markets and a focus on regulatory compliance, Kraken is poised for continued growth and success in the evolving crypto landscape. Stay tuned for more updates on Kraken’s European expansion journey.
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