Global crypto trading giant Kraken is set to acquire Dutch cryptocurrency broker BCM, marking a significant step in the exchange’s European expansion strategy. This move is aligned with the recently established Markets in Crypto-Assets (MiCA) regulatory framework, enhancing Kraken’s position in the fragmented European cryptocurrency market.
Strengthening the Dutch Connection
Kraken’s announcement to acquire Coin Meester B.V. (BCM) underscores its commitment to leverage its competitive product offerings and solid financial footing to deepen roots in the European market. BCM, established in 2017, is renowned for facilitating the buying, selling, and staking of over 170 cryptocurrencies, backed by robust local funding mechanisms.
A Win-Win Partnership
This acquisition promises mutual benefits. Kraken can broaden its Dutch and European presence, while BCM’s clientele will gain access to Kraken’s diverse product suite, top-tier security, and round-the-clock client support. “The Netherlands’ innovative culture and high crypto adoption rates make it pivotal in our European expansion,” said Kraken CEO David Ripley.
Navigating the European Regulatory Landscape
Kraken’s European growth spurt is timely, coinciding with the European Commission’s roll-out of the MiCA regulatory framework. This policy landscape paves the way for industry stakeholders to expand their reach while offering competitive and compliant services. Kraken is not only aligning with these regulations but is also actively seeking VASP registrations across Europe to bolster its market presence.
Beyond the Core Exchange Offering
Kraken isn’t resting on its laurels. The exchange is enhancing its core offerings and diversifying into decentralized blockchain technology spaces. The recent launch of its NFT marketplace and a revamped Kraken Pro trading interface underscore this strategic shift, positioning Kraken as a bridge to the burgeoning world of crypto.
Subject to regulatory approvals and customary closing nuances, the BCM acquisition is a part of Kraken’s broader vision. The exchange is committed to cementing its authority in the crypto space, offering a blend of security, diversity, and innovation. With the backing of regulatory approvals in various European nations, Kraken is poised to offer an enriched, compliant, and diverse suite of crypto services to a broader audience.
Founded in 2011, Kraken stands as a beacon of reliability in the volatile crypto trading landscape. With clients globally trading in over 200 digital assets and six national currencies, Kraken combines speed, security, and service excellence, setting an industry benchmark in transparency and client trust.
