Kraken has announced the completion of its acquisition of Coin Meester B.V. (BCM) today (Tuesday). This acquisition is a part of Kraken's strategy to grow in Europe.
With BCM, one of the oldest registered crypto brokers in the Netherlands, Kraken has expanded its presence in the Dutch market. This move also strengthens Kraken's operations as a registered Virtual Asset Service Provider (VASP) in France and Poland.
VASP Services Available across Europe
In the past two years, Kraken has accelerated its expansion across Europe. This growth comes ahead of the implementation of the Markets in Crypto-Assets Regulation.
As a result of this expansion, Kraken can now offer VASP services directly or through partnerships in several countries. They include Germany, Spain, Italy, the Netherlands, Belgium, Ireland, France, and Poland.
The European crypto market is fragmented. Increasing costs and rising competition are expected to lead to consolidation in the coming years. Kraken aims to increase its market share by utilizing its global scale and comprehensive product offerings.
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
Meanwhile, Kraken has expanded its sports partnerships, becoming the Official Crypto and Web3 Partner for Tottenham Hotspur and Atlético de Madrid. As reported by Finance Magnates, both clubs will feature Kraken as the Official Sleeve Partner for their men’s and women’s teams starting in the 2024 season.
BCM Clients Access Kraken Products
According to the firm, in the coming months, clients of BCM will have access to Kraken's product range. This includes more than 200 digital assets, leadingliquidity, high security standards, and 24/7 customer support in local languages.
“We are one of the very few in Europe that can combine global scale with a compliant offering and a superior client experience,” said Brian Gahan, Kraken Managing Director Europe.”
“Our clients stand to benefit as we empower them with the premium trading and investing experiences needed to unlock crypto’s full potential,” he further added.
This article was written by Tareq Sikder at www.financemagnates.com.
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