Today, the company announced it has completed the acquisition of Coin Meester BV (BCM), a key component of its European growth strategy.
With the acquisition of BCM, one of the oldest and most respected registered crypto brokers in the Netherlands, we have significantly expanded our footprint in the Netherlands and strengthened our operations as a registered Virtual Asset Service Provider (VASP) in France and Poland.1
Over the past two years, we have accelerated our European expansion ahead of the implementation of the MiCA Regulation and we are now able to offer VASP services directly or through partnerships in Germany*, Spain, Italy, the Netherlands, Belgium2, Ireland, France and Poland.
The European market is highly fragmented and is expected to experience consolidation over the next few years due to a combination of rising costs and increased competition. We plan to leverage our global scale and best-in-class product suite to increase our market share.
“The completion of the BCM acquisition marks an important milestone in our European expansion, allowing us to leverage our strong foundation and market-leading position in euro volumes and liquidity to significantly expand our market share over the coming years,” said Brian Gahan, Kraken’s European managing director.
“We are one of the few companies in Europe that can combine global scale with compliant compliance and a great customer experience. Our customers benefit by offering the premium trading and investment experience they need to realize the full potential of cryptocurrencies.”
In the coming months, BCM’s clients will start to benefit from the company’s broad product portfolio, giving them access to over 200 digital assets, market-leading liquidity, superior security standards and 24/7 live client support in local languages.
In recent years, Kraken has strengthened its core offering and expanded its product suite in line with its strategy to be a bridge to the most exciting areas of cryptocurrency. Kraken’s clients benefit from the Kraken Pro trading interface for advanced traders, as well as a new consumer-oriented web user experience.
*Operated by DLT Finance, a brand of DLT Securities GmbH and DLT Custody GmbH, both of which are regulated by BaFin.
1 BCM is registered as a virtual asset service provider in the Netherlands, France and Poland.
2 Kraken is an Irish registered virtual asset service provider offering its services in Belgium.
These materials are for general informational purposes only and are not investment advice or a recommendation or solicitation to buy, sell, stake or hold crypto assets or engage in any particular trading strategy. Kraken makes no representations or warranties of any kind, express or implied, as to the accuracy, completeness, timeliness, suitability or validity of such information, nor will it be liable for any errors, omissions, delays, or losses, injuries or damages arising from the display or use of this information. Kraken does not seek to increase or decrease the price of any particular crypto asset it offers. Some crypto products and markets are unregulated and may not be protected by government indemnity and/or regulatory protection regimes. The unpredictable nature of the crypto asset market may result in the loss of funds. You may be subject to tax on any income and/or increase in value of your crypto assets, so you should seek independent advice regarding your tax situation. Geographic restrictions may apply.
