A leading US-based crypto exchange is establishing its European footprint by acquiring Dutch crypto broker Coin Meester BV (BCM).
In a new press release, Kraken say it has signed a deal with BCM that will “strengthen” the crypto exchange’s presence in Europe.
“With the acquisition of BCM, one of the oldest and most respected registered crypto brokers in the Netherlands, we have significantly expanded our Dutch footprint and expanded our business with a registered Virtual Asset Service Provider (VASP) in France and Poland.”
In February this year, Kraken announced that it had obtained its VASP (Virtual Asset Service Provider) registration from the Dutch Central Bank (DCB), allowing it to expand its services to the Netherlands.
According to Kraken, the exchange has its VASP registration in Germany, Spain, Italy, 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 about the acquisition:
“The completion of the BCM acquisition is an important 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 coming years.
We are one of the few in Europe that can combine global scale with a compliant offering and a superior customer experience. Our customers will benefit as we provide them with the premium trading and investing experiences needed to unlock the full potential of crypto.”
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