Kraken strengthens European business with completion of BCM acquisition
Today we announced the closing of the Coin Meester B.V. (BCM) acquisition,1 a key element in our European growth strategy.
With the acquisition of BCM, one of the Netherlands oldest and most respected registered crypto brokers, we have significantly expanded our Dutch footprint and enhanced our business with a registered Virtual Asset Service Provider (VASP) in France and Poland.2
Over the past two years, we have accelerated our expansion in Europe ahead 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,3 Ireland, France and Poland.
The European market is highly fragmented and rising costs combined with growing competition are expected to drive consolidation in the years ahead. We plan to grow our market share by leveraging its global scale and best-in-class product suite.
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 grow our market share in the years ahead, said Brian Gahan, Kraken Managing Director Europe.
We are one of the very few in Europe that can combine global scale with a compliant offering and a superior client experience. Our clients stand to benefit as we empower them with the premium trading and investing experiences needed to unlock cryptos full potential.
Over the next few months, BCM clients will start to benefit from our extensive product offering, with clients gaining access to more than 200 digital assets, market-leading liquidity, superior security standards and 24/7/365 live, local-language client support.
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.
1 Powered by DLT Finance, a brand of DLT Securities GmbH and DLT Custody GmbH. Both companies are supervised by BaFin.
2 BCM is registered as a Virtual Asset Service Provider in the Netherlands, France and Poland.
3 Kraken offers services into Belgium from its registered Virtual Asset Service Provider in Ireland.
These materials are for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell, stake, or hold any cryptoasset or to engage in any specific trading strategy. Kraken makes no representation or warranty of any kind, express or implied, as to the accuracy, completeness, timeliness, suitability or validity of any such information and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. Kraken does not and will not work to increase or decrease the price of any particular cryptoasset it makes available. Some 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 can lead to loss of funds. Tax may be payable on any return and/or on any increase in the value of your cryptoassets and you should seek independent advice on your taxation position. Geographic restrictions may apply.
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Source: Kraken
The post Kraken strengthens European business with completion of BCM acquisition appeared first on Crypto Breaking News.
Text source: Crypto Breaking News
