Kraken, a big name in the US crypto world, is making its mark in Europe. They just bought Coin Meester B.V. (BCM), a well-known Dutch crypto broker. This move is all about strengthening Kraken’s presence in the region.
Dutch Footprint Expansion
Kraken says the BCM acquisition gives them a big boost in the Netherlands. They now have a registered Virtual Asset Service Provider (VASP) in France and Poland too. This is a big deal because it means Kraken can offer its services to more people in Europe.
European Growth Spurt
Kraken has been working hard to expand in Europe. They got their VASP registration from the Dutch Central Bank (DCB) earlier this year, which allowed them to start offering services in the Netherlands. Now, they have VASP registrations in eight European countries: Germany, Spain, Italy, the Netherlands, Belgium, Ireland, France, and Poland.
Kraken is making these moves ahead of the new Markets in Crypto-Assets (MiCA) regulations coming into effect.
Kraken’s European Strategy
Brian Gahan, Kraken’s Managing Director of Europe, says this acquisition is a big step for their European expansion. He says they’re well-positioned to grow their market share in the coming years because they offer a compliant service and a great customer experience.
