- Kraken has completed a new acquisition in Europe.
- The acquisition is part of the exchange’s strategy to branch into the European market.
- The exchange says it can now offer regulated VASP services across multiple countries in the region.
Crypto exchange Kraken has acquired Dutch digital asset broker Coin Meester B.V. (BCM) as part of a broader strategy to penetrate the European market.
The development came almost a year after Kraken announced its intention to buy BCM in October 2023. The exchange said the acquisition would accelerate its European growth plans in preparation for the Markets in Crypto-Assets (MiCA) regulatory framework, which entered its first phase in June.
Kraken Completes BCM Acquisition
In a statement on September 24, Kraken said the acquisition of BCM strengthened its presence in the Dutch market and enhanced its European business potential as a regulated Virtual Asset Service Provider (VASP) in France and Poland.
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The acquisition will allow BCM customers to tap into Kraken’s extensive crypto product offerings “over the next few months.” This includes access to over 200 digital assets, advanced digital asset security standards, and local language client support.
Kraken’s Managing Director of Europe, Brian Gahan, lauded the acquisition, noting that it presented an opportunity to empower the local market with the “premium trading and investment experiences” needed to unleash crypto’s full potential.
“The completion of the BCM acquisition is a key milestone in our European expansion, allowing us to leverage our strong footprint and market-leading position in euro volume and liquidity to significantly grow our market share in the years ahead,” Gahan stated.
In addition to the acquisition, Kraken recently became the official crypto and Web3 partner for Tottenham Hotspur and Atlético de Madrid, underscoring its commitment to Europe as a promising digital asset hub.
Stay updated on Kraken’s move to demand a jury trial in SEC case:
Kraken Challenges SEC, Demands Jury Trial as Case Heats Up
Read about Kraken’s recent loss in Australia:
ASIC Wins Case Against Kraken’s Local Operator, Bit Trade
