Kraken Acquires BCM To Expand In Europe With New MiCA Law
Crypto exchange Kraken is set to expand its presence in Europe through the acquisition of Dutch cryptocurrency broker Coin Meester BV (BCM). Founded in 2017, BCM is a registered cryptocurrency broker in the Netherlands. Kraken acquires BCM underscores the exchange’s dedication to growing its European business and capitalizing on its robust financial position and competitive product offerings. The acquisition is pending customary closing conditions and regulatory approvals.
Kraken acquires BCM to solidify its foothold in the Netherlands and extend its suite of services to BCM’s clients. This includes access to its extensive product offerings, exceptional liquidity, high-security standards, and round-the-clock client support. The decision to ramp up its European expansion aligns with the European Commission’s establishment of the Markets in Crypto-Assets (MiCA) regulatory framework. This framework encourages industry players to invest confidently in the region and offer consumers more competitive products and services. The exchange is committed to growing its business in compliance with European regulations and is actively pursuing registrations in various European markets, in addition to its existing VASP registrations in Ireland, Italy, and Spain.
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