Kraken expands European foothold with Dutch crypto broker acquisition

Kraken has announced its acquisition of Coin Meester (BCM), 1 of the Netherlands’ oldest registered crypto brokers, according to a Sept. 24 statement.

This determination aims to fortify Kraken’s beingness successful the Dutch marketplace and besides grow its concern scope with virtual plus work supplier (VASP) licenses successful France and Poland.

Brian Grahan, Kraken’s managing manager for Europe, said:

“We are 1 of the precise fewer successful Europe that tin harvester planetary standard with a compliant offering and a superior lawsuit experience. Our clients basal to payment arsenic we empower them with the premium trading and investing experiences needed to unlock crypto’s afloat potential.”

Kraken secured its VASP registration from the Dutch Central Bank (DNB) successful February.

European expansion

This acquisition is timely arsenic the European Union’s Markets successful Crypto-Assets Regulation (MiCA) takes effect successful December.

The MiCA regularisation aims to make a regulated integer plus situation that protects crypto users portion promoting innovation. The model volition streamline operations crossed EU subordinate states, making it easier for businesses to navigate regulations nether 1 unified framework.

In mentation for MiCA, Kraken has accelerated its enlargement crossed Europe implicit the past 2 years. The institution present offers regulated VASP services straight oregon done partnerships successful countries specified arsenic Germany, Spain, Italy, Belgium, Ireland, France, Poland, and the Netherlands.

Kraken’s managing manager for Europe, Brian Grahan, noted that its latest determination marks a cardinal milestone successful the firm’s European enlargement efforts. He stated:

“The completion of the BCM acquisition is simply a cardinal milestone successful our European expansion, allowing america to leverage our beardown footprint and market-leading presumption successful euro measurement and liquidity to importantly turn our marketplace stock successful the years ahead.”

The station Kraken expands European foothold with Dutch crypto broker acquisition appeared archetypal connected CryptoSlate.