Kraken obtains Dutch license, expands crypto services in Europe

Cryptocurrency exchange Kraken has recently been licensed to operate in the Netherlands.

Obtaining the provider license is a step in Kraken’s plan to broaden its European footprint. Kraken acquired Dutch crypto broker BCM last October, and now, with a virtual asset service provider (VASP) registration from the Dutch Central Bank, it’s set to grow in the Dutch market.

Another milestone in our European growth strategy – Kraken received a registration from the Dutch Central Bank 🤝We look forward to welcoming all the new Dutch clients that are looking for an easier, better & more secure crypto experience. Read more ⤵️

— Kraken Exchange (@krakenfx)

“With the addition of the Dutch VASP registration, our European growth strategy continues to accelerate,” said Brian Gahan, Kraken’s Managing Director of Europe. “We see a lot of opportunity to introduce our offering to retail clients and professional traders in the Netherlands and across Europe.”

The Netherlands offers a promising market for Kraken, with about 20% of its citizens owning cryptocurrency. Kraken’s move aligns with its goal to tap into Europe’s high fintech adoption rates.

Despite facing a lawsuit from the U.S. Securities and Exchange Commission for allegedly operating without proper registration, Kraken has maintained that the lawsuit has not impacted its business operations.

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2024-02-09 00:31