Kraken completed its acquisition of Coin Meester B.V. (BCM), one of the oldest registered crypto brokers in the Netherlands.
The acquisition aims to expand the US-based exchange’s presence in the Netherlands and strengthen its operations as a registered Virtual Asset Service Provider (VASP) in France and Poland.
Kraken has accelerated its expansion in Europe over the past two years ahead of implementing the Markets in Crypto-Assets Regulation (MiCA). In a blog post, Kraken's Managing Director in Europe, Brian Gahan, wrote that the acquisition signifies a “key milestone” in Kraken’s efforts to expand in Europe.
Following the acquisition, Kraken can now offer VASP services directly or through a partnership in Germany, Spain, Italy, the Netherlands, Belgium, Ireland, France and Poland.
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“We are one of the very few in Europe that can combine global scale with a compliant offering and a superior client experience. Our clients stand to benefit as we empower them with the premium trading and investing experiences needed to unlock crypto’s full potential,” Gahan added.
Over the next few months, BCM clients will begin to have access to Kraken’s range of products, including over 200 digital products and 24/7 customer support in local languages. On June 30, MiCA became partially applicable for crypto asset service providers and their KYC/AML requirements, while full compliance with the bloc's new regulatory framework will be required by December 2024.
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