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 Kraken is set to acquire the Netherlands-based cryptocurrency platform as part of its European expansion plans.
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<div class="cointelegraph">
 <p>United States-based <a rel="noopener noreferrer nofollow" title="exchange" href="https://thebittimes.com/tag/exchange.html">exchange</a> Kraken has announced&nbsp;a pending deal to <a rel="noopener noreferrer nofollow" title="acquire" href="https://thebittimes.com/tag/acquire.html">acquire</a> Netherlands-based cryptocurrency <a rel="noopener noreferrer nofollow" title="exchange" href="https://thebittimes.com/tag/exchange.html">exchange</a> Coin Meester B.V. (BCM) as it sets its sights on European <a rel="noopener noreferrer nofollow" title="expansion" href="https://thebittimes.com/tag/expansion.html">expansion</a>.</p>
 <p>While financial details of the deal have not been disclosed, Kraken and BCM announced the coming acquisition following the European Union’s implementation of its Markets in Crypto-Assets (MiCA) regulatory framework.</p>
 <p>The announcement from Kraken highlights its plans to grow its business across Europe, having <a rel="noopener noreferrer nofollow" title="acquire" href="https://thebittimes.com/tag/acquire.html">acquire</a>d virtual asset service provider (VASP) licenses to operate in Ireland, Italy and Spain.</p>
 <p>A statement from Kraken CEO David Ripley highlighted the strength of the Netherlands economy, the high level of cryptocurrency adoption and a culture of innovation as driving reasons for looking to establish a base of operations in the country.</p>
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  “The acquisition of BCM will give Kraken a sizable position in the Dutch market and will allow BCM’s clients to benefit from an even more robust product offering.”
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 <p>BCM co-founder and CEO Mitchell Zandwijken said that its existing client base would benefit from Kraken’s investment and innovations set to come from the acquisition.</p>
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  “Kraken is the pioneer in this field with a track record spanning well over a decade, making it the perfect steward of our business going forward.”
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 <p>BCM, which recently rebranded from Bitcoin Meester, was established in 2017 and offers cryptocurrency trading and staking services, including access to over 170 cryptocurrencies.</p>
 <p>The company is registered as a Dutch cryptocurrency service provider with De Nederlandsche Bank.&nbsp;Both companies note that the deal is subject to regulatory approvals which will include clearance from the Dutch Central Bank.</p>
 <p><em>Cointelegraph has reached out to Kraken and BCM to ascertain finer details of the acquisition.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/kraken-set-to-acquire-dutch-exchange-bcm-eyes-european-expansion-tbt65246.html">https://thebittimes.com/kraken-set-to-acquire-dutch-exchange-bcm-eyes-european-expansion-tbt65246.html</a></p>

Kraken set to acquire Dutch exchange BCM, eyes European expansion

TheBitTimes

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