Kraken Acquires Dutch Crypto Broker BCM, Expands European Operations

TLDR

• Kraken has completed the acquisition of Coin Meester B.V. (BCM)
• BCM is a registered crypto broker in the Netherlands, France, and Poland
• This acquisition expands Kraken’s European footprint ahead of MiCA implementation
• Kraken now offers VASP services in 8 European countries
• BCM clients will gain access to Kraken’s extensive product offerings

Kraken, a major cryptocurrency exchange, has announced the completion of its acquisition of Coin Meester B.V. (BCM), a well-established Dutch crypto broker.

This move marks a significant step in Kraken’s European growth strategy, particularly as the crypto industry prepares for the implementation of the Markets in Crypto-Assets Regulation (MiCA) in the European Union.

BCM, one of the oldest registered crypto brokers in the Netherlands, brings with it a strong reputation and regulatory approvals.

The acquisition not only strengthens Kraken’s position in the Dutch market but also expands its reach. BCM is registered as a Virtual Asset Service Provider (VASP) in the Netherlands, France, and Poland, allowing Kraken to offer its services in these countries.

Over the past two years, Kraken has been actively expanding its European operations. With this latest acquisition, the company can now provide VASP services either directly or through partnerships in eight European countries: Germany, Spain, Italy, the Netherlands, Belgium, Ireland, France, and Poland. This broad coverage positions Kraken as a major player in the European crypto market.

Brian Gahan, Kraken’s Managing Director for Europe, emphasized the importance of this acquisition, stating,

“The completion of the BCM acquisition is a key milestone in our European expansion.”

He added that this move would allow Kraken to leverage its strong footprint and market-leading position in euro volume and liquidity to grow its market share in the coming years.

The European crypto market is currently fragmented, with rising costs and increasing competition. Kraken anticipates that these factors will lead to market consolidation in the near future.

The company plans to capitalize on this trend by leveraging its global scale and comprehensive product suite to increase its market share.

One of Kraken’s key advantages is its ability to combine global scale with a compliant offering and superior client experience.

This combination is expected to benefit clients by providing them with premium trading and investing experiences that can help them fully utilize the potential of cryptocurrencies.

In the coming months, BCM clients will begin to see the benefits of this acquisition. They will gain access to Kraken’s extensive product offering, which includes over 200 digital assets, high liquidity, advanced security standards, and round-the-clock customer support in local languages.

Kraken has been actively improving its core product offering and expanding its suite of services. This aligns with the company’s strategy to become a bridge to the most exciting areas of the crypto industry.

Clients can take advantage of the Kraken Pro trading interface, designed for advanced traders, as well as a new consumer web user experience.