Kraken, the US-based cryptocurrency exchange, has finalized its acquisition of Coin Meester B.V. (BCM), one of the oldest registered crypto brokers in the Netherlands.
Kraken, the US-based cryptocurrency exchange, has finalized its acquisition of Coin Meester B.V. (BCM), one of the oldest registered crypto brokers in the Netherlands.
This strategic move is part of Kraken’s ongoing efforts to expand its operations throughout Europe and solidify its status as a registered Virtual Asset Service Provider (VASP).
The acquisition allows Kraken to extend its services directly in several European countries, including the Netherlands, Germany, Spain, Italy, Belgium, Ireland, France, and Poland.
Following the integration, BCM clients will gain access to Kraken’s extensive range of over 200 digital products and 24/7 customer support in local languages.
In a recent blog post, Brian Gahan, Kraken's Managing Director for Europe, described the acquisition as a significant milestone in the company's European expansion strategy. Over the past two years, Kraken has intensified its growth efforts in the region, particularly in anticipation of the implementation of the Markets in Crypto-Assets Regulation (MiCA).
As part of the new regulatory framework, which became partially applicable on June 30, 2023, crypto asset service providers will need to meet specific KYC and AML requirements.
Full compliance is expected by December 2024. Kraken aims to leverage its global scale to provide a compliant offering and enhance the client experience in Europe.
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