Kraken Expands in Europe Through Coin Meester B.V. Deal
Kraken, a globally recognized and highly secure cryptocurrency platform, has taken a significant step to fortify its position in the European market. The company has officially announced its intent to purchase Coin Meester B.V. (BCM), a well-established cryptocurrency brokerage in the Netherlands.
Kraken’s decision to acquire BCM is a testament to its commitment to expanding its foothold in Europe, leveraging its strong financial standing and competitive product offerings. Founded in 2017, BCM has carved out a niche as one of the Netherlands’ longest-standing and most reputable registered crypto brokers, offering a range of services, including buying, selling, and staking over 170 cryptocurrencies through robust local funding channels.
This strategic acquisition will solidify Kraken’s presence in the Netherlands and extend its diverse product lineup, industry-leading liquidity, top-tier security protocols, and round-the-clock customer support to BCM’s customer base.
CEO of Kraken, David Ripley, expressed his enthusiasm for the venture, stating, “The Netherlands boasts one of the world’s most advanced economies, a culture of innovation, and high levels of crypto adoption. This makes it a pivotal market for our European expansion strategy. Acquiring BCM will grant Kraken a significant foothold in the Dutch market, offering BCM’s clients access to an even more comprehensive product portfolio.”
Mitchell Zandwijken, Co-founder and CEO of BCM added, “We established BCM to make crypto accessible to all. With its decade-long history as a cryptocurrency industry pioneer, Kraken is the ideal guardian for our business moving forward. Our clients will benefit from Kraken’s ongoing investments and innovations in the cryptocurrency sphere.”
Navigating Regulatory Waters: Kraken and BCM’s Strategic Alignment with the MiCA Framework
Kraken’s accelerated European growth strategy aligns with the European Commission’s adoption of the Markets in Crypto-Assets (MiCA) regulatory framework. This framework enables industry players to invest confidently and provide consumers with competitive products and services in the region. Moreover, Kraken fully commits to expanding its European footprint strictly following European regulations. The company secured VASP registrations in Ireland, Italy, and Spain and is actively pursuing registrations in other European markets.
Kraken’s expansion forms part of its overarching strategy to empower individuals to explore the decentralized blockchain landscape. Recent initiatives include launching an NFT marketplace, revamping the Kraken Pro trading interface, and improving the consumer web experience.
The finalization of this acquisition is contingent on customary closing conditions, including obtaining the necessary regulatory approvals. While specific financial details are undisclosed, Kraken’s European growth dedication marks an exciting cryptocurrency industry chapter. It promises to give European users improved access to digital assets and financial services.
