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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