A leading US-based crypto exchange is establishing its European footprint by acquiring the Dutch crypto broker Coin Meester B.V. (BCM).
In a new press release, Kraken says it has closed on a deal with BCM that will “strengthen” the crypto exchange’s presence in Europe.
“With the acquisition of BCM, one of the Netherlands’ oldest and most respected registered crypto brokers, we have significantly expanded our Dutch footprint and enhanced our business with a registered Virtual Asset Service Provider (VASP) in France and Poland.”
In February of this year, Kraken announced it had obtained its VASP (Virtual Asset Service Provider) registration from the Dutch Central Bank (DCB), allowing it to expand its services into the Netherlands.
According to Kraken, the exchange has its VASP registration in Germany, Spain, Italy, the Netherlands, Belgium, Ireland, France and Poland. Kraken says it has accelerated European growth ahead of the implementation of Markets in Crypto-Assets (MiCA) regulations.
Says Kraken Managing Director of Europe Brian Gahan of the acquisition,
“The completion of the BCM acquisition is a key milestone in our European expansion, allowing us to leverage our strong footprint and market-leading position in euro volume and liquidity to significantly grow our market share in the years ahead.
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.”