Kraken, a popular virtual currency exchange network, has announced its plans to acquire Coin Meester B.V. (BCM), a crypto broker based in the Netherlands. This acquisition is seen as a strategic move to solidify Kraken’s presence in Europe and comply with evolving regulatory requirements.
BCM, established in 2017, is known as one of the oldest and most reputable registered crypto brokers in the Netherlands. The exchange offers a wide range of services, including buying, selling, and staking, and provides access to over 170 cryptocurrencies and local funding options.
By acquiring BCM, Kraken aims to expand its market reach in the Dutch market and offer BCM’s clients access to its comprehensive product offerings. The collaboration will also bring increased security measures, better liquidity, and round-the-clock client support for BCM clients.
David Ripley, CEO of Kraken, emphasizes the significance of this acquisition, stating that it will give Kraken a significant position in the Dutch market and enable BCM’s clients to benefit from Kraken’s robust product offerings. He also identifies the Netherlands as a key market for Kraken’s European expansion plans due to the country’s advanced economy and crypto adoption.
Mitchell Zandwijken, CEO and co-founder of BCM, views this acquisition as a positive Development for their clients. He believes that Kraken’s long history and continuous Investment and innovation in the crypto space will provide BCM’s clients with access to the full potential of crypto assets.
Kraken’s acquisition of BCM is part of its broader strategy to ensure regulatory compliance, particularly in Europe. The European Commission has implemented the Markets in Crypto-Assets (MiCA) regulatory framework, which establishes regulations for crypto, stablecoins, and other Blockchain assets. Compliance with these regulations, including obtaining proper VASP registration (Virtual Asset Service Provider), is crucial for industry players to operate in the region.
Kraken has already obtained licenses from Ireland’s Apex Bank to operate as an e-money institution in the country, as well as VASP registration from Spain’s Apex Bank. The exchange also holds an operating license related to crypto in Italy and is actively pursuing additional registrations in other countries.
In conclusion, Kraken’s acquisition of BCM aims to strengthen its position in the European market and comply with regulatory requirements. The partnership will bring added benefits to BCM’s clients, including enhanced security measures and round-the-clock support. With its expansion plans and commitment to regulatory compliance, Kraken aims to establish itself as a leading player in the virtual currency exchange network in Europe..
#Kraken #Pushes #European #Expansion #Acquisition #BCM
BCM, established in 2017, is known as one of the oldest and most reputable registered crypto brokers in the Netherlands. The exchange offers a wide range of services, including buying, selling, and staking, and provides access to over 170 cryptocurrencies and local funding options.
By acquiring BCM, Kraken aims to expand its market reach in the Dutch market and offer BCM’s clients access to its comprehensive product offerings. The collaboration will also bring increased security measures, better liquidity, and round-the-clock client support for BCM clients.
David Ripley, CEO of Kraken, emphasizes the significance of this acquisition, stating that it will give Kraken a significant position in the Dutch market and enable BCM’s clients to benefit from Kraken’s robust product offerings. He also identifies the Netherlands as a key market for Kraken’s European expansion plans due to the country’s advanced economy and crypto adoption.
Mitchell Zandwijken, CEO and co-founder of BCM, views this acquisition as a positive Development for their clients. He believes that Kraken’s long history and continuous Investment and innovation in the crypto space will provide BCM’s clients with access to the full potential of crypto assets.
Kraken’s acquisition of BCM is part of its broader strategy to ensure regulatory compliance, particularly in Europe. The European Commission has implemented the Markets in Crypto-Assets (MiCA) regulatory framework, which establishes regulations for crypto, stablecoins, and other Blockchain assets. Compliance with these regulations, including obtaining proper VASP registration (Virtual Asset Service Provider), is crucial for industry players to operate in the region.
Kraken has already obtained licenses from Ireland’s Apex Bank to operate as an e-money institution in the country, as well as VASP registration from Spain’s Apex Bank. The exchange also holds an operating license related to crypto in Italy and is actively pursuing additional registrations in other countries.
In conclusion, Kraken’s acquisition of BCM aims to strengthen its position in the European market and comply with regulatory requirements. The partnership will bring added benefits to BCM’s clients, including enhanced security measures and round-the-clock support. With its expansion plans and commitment to regulatory compliance, Kraken aims to establish itself as a leading player in the virtual currency exchange network in Europe..
#Kraken #Pushes #European #Expansion #Acquisition #BCM
