Kraken, a major player in the world of cryptocurrencies, has taken another step in its European expansion. With the acquisition of BCM, a major Dutch broker, the platform has strengthened its presence on the Old Continent. In so doing, it is anticipating the entry into force of MiCA regulations.
This strategic acquisition underlines Kraken’s ambition to become an undisputed leader in the European crypto-asset market.
Kraken’s Expansion Strategy in Europe
Kraken has taken a further step in its expansion by finalizing the acquisition of Coin Meester (BCM). BCM is a long-standing player on the Dutch cryptocurrency market. This strategic operation significantly strengthens the platform’s European presence. Kraken thus establishes itself as a benchmark player in the sector.
By integrating BCM, Kraken benefits from solid local expertise and an established customer base in the Netherlands. In addition, BCM is licensed as a Virtual Asset Service Provider (VASP) in France and Poland. This opens up new growth prospects in these key markets.
The acquisition is also part of BCM’s drive to offer an ever more comprehensive range of services tailored to the needs of European investors. All this in compliance with current regulations.
According to Brian Grahan, Kraken’s Managing Director for Europe, this operation marks a turning point in the company’s strategy.
MiCA, a Regulation Favorable to Kraken’s Expansion
Kraken wanted to anticipate the entry into force of the MiCA regulation on December 30. The platform has significantly accelerated its European expansion over the past two years. This proactive strategy now enables it to offer regulated VASP services, directly or via its partnerships, in a multitude of European countries, including Germany, Spain, Italy, Belgium, Ireland, France, Poland, and the Netherlands.
Kraken must also face up to a European cryptocurrency market marked by strong fragmentation and increased competition. This new geographical consolidation positions Kraken as a major and solid player for the challenges ahead.
“Thanks to this acquisition, we can offer our customers an even broader range of services tailored to their needs,” emphasized Gahan. “By combining our expertise with that of BCM, we strengthen our position in Europe and are able to better serve our existing customers while attracting new ones.”
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