Today we announced the closing of the acquisition of Coin Meester BV (BCM), a key element of our European growth strategy.
With the acquisition of BCM, one of the oldest and most respected registered crypto brokers in the Netherlands, we have significantly expanded our Dutch footprint and strengthened our business with a registered Virtual Asset Service Provider (VASP) in France and Poland.1
Over the past two years, we have accelerated our expansion in Europe in anticipation of the implementation of the Markets in Crypto-Assets Regulation (MiCA). We are now able to offer VASP services directly or through a partnership in Germany, Spain, Italy, the Netherlands, Belgium,2 Ireland, France and Poland.
The European market is highly fragmented and rising costs, combined with increased competition, are expected to drive market consolidation in the coming years. We plan to increase our market share by leveraging our global scale and best-in-class product offering.
“The completion of the BCM acquisition is a key milestone in our European expansion, allowing us to leverage our strong footprint and market-leading position in euro volume and liquidity to significantly increase our market share in the years ahead,” said Brian Gahan, Managing Director of Kraken Europe.
“We are one of the few players in Europe that can combine global scale with a compliant offering and superior customer experience. Our clients will benefit as we provide them with the premium trading and investment experiences needed to unlock the full potential of cryptocurrencies.”
Over the coming months, BCM clients will begin to benefit from our extensive product offering, with access to over 200 digital assets, market-leading liquidity, superior security standards, and 24/7/365 live customer support in your local language.
In recent years, Kraken has strengthened its core product offering and expanded its product suite, in line with its strategy to become the bridge to the most exciting areas of crypto. Kraken clients benefit from the Kraken Pro trading interface for advanced traders and a new consumer web user experience.
Powered by DLT Finance, a brand of DLT Securities GmbH and DLT Custody GmbH. Both companies are supervised by BaFin.
1 BCM is registered as a virtual asset service provider in the Netherlands, France and Poland.
2 Kraken offers services in Belgium through its Virtual Asset Service Provider registered in Ireland.
These materials are provided for general informational purposes only and do not constitute investment advice, or a recommendation or solicitation to buy, sell, stake, or hold any cryptoassets, or to participate in any specific trading strategy. Kraken makes no representations or warranties, express or implied, as to the accuracy, completeness, timeliness, suitability, or validity of this information and will not be liable for any errors, omissions, or delays in this information or for any losses, injuries, or damages resulting from the display or use of it. Kraken does not and will not work to increase or decrease the price of any particular cryptoasset that it makes available. Certain crypto products and markets are unregulated and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the cryptoasset markets may result in the loss of funds. Tax may be payable on any return and/or increase in the value of your crypto assets and you should seek independent advice on your tax position. Geographic restrictions may apply.
