Kraken, a leading cryptocurrency exchange, has announced the completion of its acquisition of Coin Meester B.V. (BCM), a Dutch cryptocurrency broker. In a strategic move aimed at expanding its presence across Europe.
However, the acquisition represents a significant milestone in Kraken’s European expansion strategy, allowing the company to leverage BCM’s existing infrastructure and regulatory approvals to broaden its service offerings and reach a wider customer base.
Coin Meester, established in 2013, is one of the Netherlands’ oldest registered crypto broker firms. Moreover, the acquisition grants Kraken access to BCM’s virtual asset service provider (VASP) license, registered in France and Poland.
Furthermore, this acquisition further strengthens Kraken’s position in the European market, allowing the exchange to offer its services directly or through partnerships in a growing list of countries, including Germany, Spain, Italy, the Netherlands, Belgium, Ireland, France, and Poland.
Notably, “We are one of the very few in Europe that can combine global scale with a compliant offering and a superior client experience,” stated Brian Grahan, Kraken’s managing director for Europe.
Additionally, he highlighted the significance of the acquisition, stating that it will enable Kraken to empower clients with “the premium trading and investing experiences needed to unlock crypto’s full potential.”
Kraken Acquisition Pave Way Major Expansion
The acquisition arrives on the cusp of the full implementation of the Markets in Crypto-Assets (MiCA) bill, a landmark piece of legislation that will serve as the first comprehensive regulatory framework for the crypto industry in Europe.
Scheduled to come into full effect on December 30, MiCA will introduce standardized rules for crypto service providers, including exchanges, custodians, and wallet providers, across the European Union.
Furthermore, Kraken’s acquisition of Coin Meester demonstrates a proactive approach to navigating the evolving regulatory landscape in Europe.
Moreover, by securing a VASP license in key European markets, Kraken positions itself to capitalize on the growing demand for compliant and regulated cryptocurrency services.
The move reinforces the company’s commitment to offering its clients a secure, transparent, and compliant platform for accessing the world of cryptocurrencies.
As the European crypto market continues to mature, Kraken’s strategic acquisitions and its commitment to regulatory compliance are likely to pave the way for future expansion and growth within the region.
