Kraken, the renowned cryptocurrency exchange, has announced its planned acquisition of Coin Meester B.V. (BCM), a leading crypto broker based in the Netherlands. This move underscores Kraken’s dedication to expanding its business in Europe through its strong financial position and competitive product offering.
Founded in 2017, BCM prides itself on being one of the oldest and most reputable registered crypto brokers in the Netherlands. The company offers various services, including buying, selling, and staking cryptocurrencies, with access to over 170 digital assets and secure local funding channels.
Through this proposed acquisition, Kraken aims to enhance its presence in the Netherlands and provide BCM’s clients with access to its extensive product range, market-leading liquidity, top-notch security standards, and round-the-clock client support.
David Ripley, the CEO of Kraken, emphasized the importance of the Dutch market in the company’s European expansion plans. With the acquisition of BCM, Kraken will establish a significant position in the Netherlands and offer BCM’s clients an even more robust product lineup.
BCM’s Co-founder and CEO, Mitchell Zandwijken, noted that they founded the company with the intention of making cryptocurrency accessible to everyone. By joining forces with Kraken, a pioneer in the field with over a decade of experience, BCM’s clients will benefit from Kraken’s continuous investment and innovation.
Kraken’s decision to expedite its European growth plans aligns with the newly established Markets in Crypto-Assets (MiCA) regulatory framework by the European Commission. This framework provides a solid foundation for industry players to invest in the region with confidence, leading to the availability of more competitive products and services for consumers.
Kraken is fully committed to growing its business while adhering to European regulations. In addition to holding Virtual Asset Service Provider (VASP) licenses in Ireland, Italy, and Spain, the company is actively pursuing registrations in other European markets.
The completion of this proposed acquisition is subject to customary closing conditions, including obtaining the necessary regulatory approvals. As of now, no financial details of the transaction have been disclosed.
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