- Kraken has completed the acquisition of the Dutch cryptocurrency exchange Coin Meester BV
- The exchange expanded its services across the EU ahead of MiCA regulation
Cryptocurrency exchange Kraken has finalized the purchase of Coin Meester BV (BCM), a regulated, Netherlands-based crypto broker. BCM holds regulatory approval as a registered virtual asset service provider (VASP) in both France and Poland.
BCM’s presence in the Netherlands enables Kraken to offer its services in France and Poland. According to the announcement, the acquisition of BCM will bolster Kraken’s efforts to expand its services across Europe.
“Completing the BCM acquisition is a significant milestone in our European expansion. It allows us to leverage our strong footprint and market-leading position in euro volume and liquidity to meaningfully grow our market share in the years ahead,” said Brian Gahan, Kraken’s Managing Director for Europe, in a statement.
Kraken will begin rolling out its products to BCM customers in the coming months. This expansion will include access to more than 200 cryptocurrencies. Users will also benefit from the liquidity, security, and customer support that Kraken provides to its platform users.
Kraken’s EU expansion
The deal follows Kraken’s broader expansion across Europe as the industry prepares for compliance with the EU’s Markets in Crypto-Assets (MiCA) framework.
Kraken currently provides VASP services either directly or through various partnerships across the EU. Countries where the exchange operates include Germany, Spain, Italy, the Netherlands, and France.
The exchange has also extended services to Ireland and Poland. In Belgium, Kraken operates via its VASP platform based in Ireland.