Cryptocurrency Exchange Kraken has announced the completion of its acquisition of Coin Meester B.V. (BCM), a Dutch cryptocurrency broker. This acquisition marks a significant step in Kraken’s strategic growth as it expands itself in the European region particularly in the Netherlands.
Cryptocurrency exchange Kraken announced the completion of its acquisition of Dutch cryptocurrency broker Coin Meester B.V. (BCM). Kraken currently offers VASP services directly or through partnerships in Germany, Spain, Italy, the Netherlands, Belgium, Ireland, France, and…
— Wu Blockchain (@WuBlockchain) September 24, 2024
European Expansion Strategy
The acquisition of BCM is a key element as it is one of the oldest and the most reputable crypto brokers in the Netherlands. With BCM’s stronghold in the market and its experience, Kraken is strengthening its position in the European market to offer a more robust and compliant service.
The services will be available as Virtual Asset Service Provider (VASP) either directly or through partnership with multiple European countries such as Germany, Spain, Italy, the Netherlands, Belgium, Ireland, France and Poland. This development comes ahead of the forthcoming Markets in Crypto Assets Regulation (MiCA), positioning Kraken to navigate the regulatory landscape with ease.
Brian Gahan, Kraken’s Managing Director of Europe, emphasized the importance of the acquisition and said “The completion of the BCM acquisition is a key milestone in our European expansion, allowing us to leverage our strong footprint and market-leading position in euro volume and liquidity to significantly grow our market share in the years ahead.”
Kraken’s Enhanced Product Offerings for BCM Clients
With this acquisition, Kraken is tapping into one of the most significant markets on the globe and will be catering its premium services to new and existing clients. Following the acquisition, BCM’s clients can expect to access an expanded range of products and services, including over 200 digital assets, enhanced market liquidity, high level security, and continuous support.
In addition, the clients will also be exposed to the use of Kraken Pro, its advanced trading interface for experienced traders. This advanced trading interface enhances the consumer web experience, and makes it more accessible to a broader range of users. The goal here is to bridge the gap between the advanced crypto trading and the mass adoption of digital assets.
As crypto exchange grows its footprints and enhances its product offerings across the globe, the exchange remains committed to providing a secure, user-friendly, and highly regulated environment for cryptocurrency trading and investment. The acquisition of BCM is just a latest move in its journey to becoming the go-to platform for both professional traders and everyday investors across Europe.
Also Read: XRP Eyes Potential Breakout as It Revisits Key Resistance Level!
Source: https://www.cryptonewsz.com/kraken-acquires-coin-meester-bcm-expands-eu/