Kraken Announces Acquisition of Dutch Cryptocurrency Broker as Part of European Expansion

A major US-based cryptocurrency exchange is establishing its European presence by acquiring Dutch cryptocurrency broker Coin Meester BV (BCM).

In a new press release, Kraken announces that it has entered into an agreement with BCM that will “strengthen” the cryptocurrency exchange’s presence in Europe.

“With the acquisition of BCM, one of the oldest and most respected registered cryptocurrency brokers in the Netherlands, we have significantly expanded our Dutch footprint and strengthened our business with a Virtual Asset Service Provider (VASP) registered in France and Poland.”

In February of this year, Kraken announced that it had obtained its Virtual Asset Service Provider (VASP) registration from the Dutch Central Bank (DCB), allowing it to expand its services to the Netherlands.

According to Kraken, the exchange is VASP registered in Germany, Spain, Italy, the Netherlands, Belgium, Ireland, France, and Poland. Kraken says it has accelerated its European growth ahead of the implementation of the Markets in Crypto Assets (MiCA) regulation.

Brian Gahan, Kraken’s Managing Director for Europe, said of the acquisition:

“The completion of the BCM acquisition is a key milestone in our European expansion, enabling us to leverage our strong footprint and market-leading position in terms of euro volume and liquidity to significantly increase our market share in the years to come.

“We are one of the few players in Europe that can combine global scale with a compliant offering and superior customer experience. Our clients will benefit as we provide them with the premium trading and investment experiences needed to unlock the full potential of cryptocurrencies.”

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