A prominent US-based crypto exchange platform is venturing into Europe’s fifth-largest economy after obtaining proper registration.
Crypto trading platform Kraken reports in a new press release announced that it has obtained a VASP (Virtual Asset Service Provider) registration from the Dutch Central Bank (DCB), which allows it to expand its services to the Netherlands.
VASP licenses provide crypto companies with clear guidelines on how to operate digital asset services within the European Union (EU).
As Brian Gahan, editor-in-chief of Kraken’s European division, says in the press release:
“With the addition of the Dutch VASP registration, our European growth strategy continues to accelerate. We see many opportunities to introduce our offering to both private customers and professional traders in the Netherlands and throughout Europe.
Whether for existing crypto investors or those looking to buy crypto for the first time, Kraken is a top choice with a highly competitive offering that continues to grow.”
According to Kraken, offering products in the Netherlands is an important part of the European growth strategy, as the country has one of the highest rates of fintech and crypto adoption in the EU.
“The Netherlands has a vibrant startup and technology sector, a strong financial services sector and the highest rate of fintech adoption among developed economies.
It also has one of the highest crypto adoption rates in Europe, with around 20% of Dutch citizens owning crypto. As a result, we see the Netherlands as a strategically important market for the European growth strategy.”
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Featured image: Shutterstock/Don Roberts