The reputation of Kraken in the United States is undeniable. But now, the US-based exchange seems ready to expand its footprint. In a bold move, Kraken has revealed its intentions to acquire the Dutch cryptocurrency platform Coin Meester B.V. (BCM). This acquisition is particularly strategic as it coincides with the recent implementation of the European Union’s MiCA regulatory framework.
A License and an Acquisition to Conquer Europe
The European market, diverse and growing, is an enticing territory for any crypto company. Kraken has already acquired licenses as a virtual asset service provider (VASP) allowing it to operate in countries like Ireland, Italy, and Spain.
David Ripley, Kraken’s CEO, sees a unique opportunity in the Dutch economy. The combination of high cryptocurrency adoption, a robust economy, and an innovation-focused culture places the Netherlands at the heart of Kraken’s European ambitions.
The acquisition of BCM will give Kraken a significant position in the Dutch market and allow BCM’s clients to benefit from an even stronger product offering.
On the other hand, Mitchell Zandwijken, co-founder and CEO of BCM, sees Kraken as a powerful ally for his clientele. The prospect of accessing Kraken’s innovations and investment is highly exciting.
BCM: A Thriving Dutch Player
The contemplated acquisition involves no small entity. BCM, formerly known as Bitcoin Meester, has been an established pillar in the Dutch crypto sector since 2017. With offerings such as cryptocurrency trading and staking, as well as access to over 170 cryptocurrencies, BCM has built a strong reputation. However, the conclusion of this acquisition depends on regulatory approvals, including that of the Dutch Central Bank.