Kraken Boosts European Presence by Buying Dutch Crypto Broker

Introduction

Kraken, a leading cryptocurrency exchange, has made a significant move to expand its European presence by acquiring Coin Meester (BCM), one of the Netherlands’ oldest registered crypto brokers. This strategic acquisition comes as the European Union’s Markets in Crypto-Assets Regulation (MiCA) is set to take effect.

Kraken’s Strategic Move

Strengthening Dutch Market Presence

• Kraken announced its acquisition of Coin Meester (BCM) on September 24.
• The move aims to bolster Kraken’s foothold in the Dutch market and extend its reach with VASP licenses in France and Poland.

Brian Grahan’s Statement

“We are one of the very few in Europe that can combine global scale with a compliant offering and a superior client experience. Our clients stand to benefit as we empower them with the premium trading and investing experiences needed to unlock crypto’s full potential.”

VASP Registration

• Kraken secured its VASP registration from the Dutch Central Bank (DNB) in February.

European Expansion

MiCA Regulation Impact

• The MiCA regulation, effective December, aims to create a regulated digital asset environment across EU member states.
• It will streamline operations for businesses under one unified framework.

Kraken’s Preparations

• Over the past two years, Kraken has accelerated its expansion across Europe.
• The company now offers regulated VASP services directly or through partnerships in Germany, Spain, Italy, Belgium, Ireland, France, Poland, and the Netherlands.

Brian Grahan on Expansion Efforts

“The completion of the BCM acquisition is a key milestone in our European expansion.”

Conclusion

Kraken’s acquisition of Coin Meester marks a pivotal step towards solidifying its market position ahead of MiCA regulations. This strategic move not only strengthens their presence but also sets them up for significant growth across Europe.

References

1. CryptoSlate – Kraken expands European foothold with Dutch crypto broker acquisition
2. Kraken Blog – Official Announcement
3. CryptoSlate – How MiCA affects your company