Kraken Plans to Acquire Dutch Crypto Broker BCM

Published 7 months ago

Kraken, a prominent crypto exchange, has announced its intention to acquire Coin Meester B.V. (BCM), a respected crypto broker in the Netherlands. This move is part of Kraken’s strategy to grow its business in Europe by leveraging its strong financial position and competitive product offering.

BCM’s Role in the Dutch Market

Founded in 2017, BCM has established a strong presence in the Dutch market as one of the country’s oldest registered crypto brokers. BCM provides services to buy, sell, and stake crypto, and offers access to over 170 cryptocurrencies with strong local funding rails.

Benefits of the Acquisition

Kraken’s planned acquisition of BCM aims to strengthen its presence in the Netherlands and offer BCM’s clients an expanded product range, market-leading liquidity, superior security standards, and 24/7/365 live client support.

Kraken CEO David Ripley highlighted the Netherlands’ advanced economy, culture of innovation, and high crypto adoption as key factors in the company’s European expansion plans. “The acquisition of BCM will give Kraken a sizable position in the Dutch market,” Ripley stated.

Mitchell Zandwijken, co-founder and CEO of BCM, expressed his confidence in the move, saying that Kraken, a pioneer in the crypto field, is the perfect steward for BCM’s business. He emphasized that BCM’s clients will benefit from Kraken’s continuous investment and innovation.

Growth in Compliance with European Regulations

Kraken’s plan to accelerate its growth in Europe follows the European Commission’s establishment of the Markets in Crypto-Assets (MiCA) regulatory framework, which facilitates industry players to confidently invest in the region and offer consumers more competitive products and services.

Kraken is actively pursuing registrations in other European markets, in addition to its existing VASP licenses in Ireland, Italy, and Spain, underscoring its commitment to grow its business in compliance with European regulations.

The proposed acquisition is subject to customary closing conditions, including obtaining the necessary regulatory approvals. The financial details of the transaction have not been disclosed.

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