Kraken, the U.S.-based cryptocurrency exchange, has finalized its acquisition of Coin Meester B.V. (BCM), one of the oldest registered crypto brokers in the Netherlands. This strategic move aims to bolster Krakenâs presence in the Dutch market, alongside reinforcing its position as a Virtual Asset Service Provider (VASP) in key European regions.
Notably, with this acquisition, Kraken is solidifying its plans to expand its operations across Europe, especially as new regulatory changes come into effect under the Markets in Crypto-Assets Regulation (MiCA).
A Strategic European Expansion
Additionally, over the past two years, Kraken has significantly ramped up its efforts to broaden its footprint in Europe. The exchangeâs Managing Director in Europe, Brian Gahan, emphasized that this acquisition is a crucial step in Krakenâs growth strategy. According to Gahan, this move allows Kraken to provide a âcompliant offeringâ while delivering a superior experience to clients.
Besides, with the addition of BCM, Kraken can now offer VASP services in Germany, Spain, Italy, Belgium, Ireland, France, and Poland. This broad network places Kraken among the few global exchanges that can operate at such scale within a highly regulated market.
Notably, in the coming months, BCM clients will gain access to Krakenâs extensive product offerings. This includes over 200 digital assets and continuous customer support available in local languages.
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Moreover, by integrating BCMâs platform, Kraken is not only expanding its geographical reach but also enhancing its ability to offer region-specific support. This is expected to improve the trading and investing experience for European clients, aligning with Krakenâs mission to empower its users with a premium service.