Kraken Acquires One Of Netherlands Oldest Crypto Brokers, Continues European Expansion

Leading digital asset exchange, Kraken, has completed its purchase of Coin Meester BV (BCM) on 24 September 2024.

Coin Meester is known as one of the oldest registered crypto brokers in the Netherlands.

With This Deal, Kraken Can Now Offer VASP Services In 8 European Countries

We’re happy to share the close of the BCM acquisition! The deal significantly boosts our Dutch footprint and gives us registered operations in France and Poland. Read more here ⬇️ https://t.co/GoCIWEqrbD

— Kraken Exchange (@krakenfx) September 24, 2024

The acquisition continues the US-based exchange’s push into the European market.

The firm’s position is further strengthened as the Netherlands marks another country where Kraken is  registered as a Virtual Asset Service Provider (VASP).

Following this deal, Kraken can now offer VASP services directly or through a partnership in Germany, Spain, Italy, Belgium, Ireland, France, Poland and now the Netherlands.

This marks a new milestone for Kraken’s expansion European expansion. The firm have been making inroads over the past two years ahead of implementing the Markets in Crypto-Assets Regulation (MiCA).

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Expanding In Europe: Key Milestone

Great move by Kraken! This will boost their European presence significantly! 🇳🇱🚀

— krapsCoin (@KrabsCoinX) September 24, 2024

To announce the acquisition, Kraken’s managing director of Europe, Brian Gahan, wrote in a blog post that the deal signifies a “key milestone” in Kraken’s efforts to expand in Europe.

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

Kraken’s post goes on to say that over the coming months, BCM clients will start to benefit from Kraken’s extensive product offering. Its clients will gain access to more than 200 digital assets, market-leading liquidity, superior security standards and 24/7/365 live, local-language client support.

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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.