Cryptocurrency trading platform Kraken has announced the completion of its acquisition of Dutch Coin Meester B.V. (BCM). This marks a significant step in Kraken’s growth in Europe. Acquiring one of the oldest registered cryptocurrency brokers in the Netherlands has enabled Kraken to significantly enhance its presence in the Dutch market and to gain registered Virtual Asset Service Provider (VASP) status in Poland and France.
Kraken is among the longest-running and most secure cryptocurrency trading platforms globally. Over the last two years preceding the implementation of the Markets in Crypto-Assets (MiCA) regulation, the company has significantly accelerated its expansion in Europe. Kraken currently offers VASP services directly or through partnerships in Germany[1], Spain, Italy, Netherlands, Belgium[2], Ireland, France, and Poland[3].
The European market is highly fragmented, and rising costs and competition will likely lead to consolidation in the coming years. Kraken plans to increase its market share in Europe using its global reach and top-tier product range.
“The acquisition of BCM is a milestone in our European expansion. It will enable us to leverage our leading position in terms of volume and liquidity in euros to significantly increase our market share,” said Brian Gahan, Managing Director of Kraken for Europe. “We are one of the few companies in the European market today that can combine global reach, regulatory-compliant offerings, and excellent customer service.”
In the next few months, BCM clients will start benefiting from Kraken’s extensive offerings, gaining access to over 200 digital assets, one of the largest liquidity in the market, the highest security standards, and round-the-clock customer service in their native language.
In line with its development strategy in recent years, Kraken has expanded its product range to enable access to the most exciting areas of the crypto market. The company meets the needs of both advanced and novice users, offering the Kraken Pro platform as well as a new, intuitive web interface.
[1] The services are provided by DLT Finance, a brand owned by DLT Securities GmbH and DLT Custody GmbH. Both companies are supervised by the Federal Financial Supervisory Authority (BaFin).
[2] Kraken offers services in Belgium through its registered Virtual Asset Service Provider (VASP) in Ireland.
[3] BCM is a registered Virtual Asset Service Provider (VASP) in the Netherlands, France, and Poland.
Source: https://managerplus.pl/kraken-finalizuje-przejecie-holenderskiej-platformy-coin-meester-b-v-87453
