As a seasoned crypto investor with roots deeply entrenched in the European market, I can’t help but feel a surge of optimism following Kraken’s strategic acquisition of Coin Meester B.V. (BCM). The Dutch market has always been a significant player in the European crypto landscape, and this move by Kraken is a clear indication that they are serious about establishing themselves as a dominant force here.
As a researcher delving into the realm of cryptocurrencies, I’m excited to announce that our company, Kraken, has taken a significant step forward in our European expansion plans. We have proudly acquired Coin Meester B.V. (BCM), a distinguished Dutch crypto brokerage firm with deep roots in the Netherlands, as part of this strategy. This acquisition will undoubtedly strengthen our presence and service offerings within the European market.
According to a statement from Kraken, this action substantially fortified their standing within the Dutch market and granted them official Virtual Asset Service Provider status in both France and Poland.
This purchase is strategically significant because it coincides with the planned enforcement of the Markets in Crypto-Assets Regulation on December 30, 2024.
The MiCA regulation marks the European Union’s initial all-encompassing legislative structure, offering clarity and guidelines for the cryptocurrency sector within the EU. This framework will mandate crypto service providers to adhere to stringent standards, thereby facilitating seamless business operations across various EU member states under a unified regulatory system.
Kraken is a renowned global platform for trading various digital assets such as Bitcoin (BTC) and Ethereum (ETH), among others, in the realm of cryptocurrencies.
Kraken’s goals
Last year, Kraken started buying up BCM with the goal of boosting its influence in the European market. This move enables them to extend their service reach to nations like Germany, Spain, Italy, Belgium, and Ireland.
Brian Gahan, Kraken’s Europe Managing Director, underscored that the acquisition would aid Kraken in broadening its market influence by providing clients access to more than 200 digital assets and round-the-clock support. This growth will also empower Kraken to capitalize on its global presence while adhering to European regulatory standards.
Among the rare companies in Europe, we have the unique ability to merge large-scale operations with a compliant service and exceptional customer experience. This empowers our clients to fully utilize cryptocurrencies by providing top-tier trading and investment opportunities.
Brian Gahan, Kraken Managing Director Europe
This purchase marks progress towards unification in Europe’s decentralized cryptocurrency sector, as major players gear up to function under the umbrella of MiCA’s uniform regulations.
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2024-09-24 16:47