A prominent cryptocurrency exchange, Kraken, has announced its intention to acquire Coin Meester B.V. (BCM), a respected Dutch crypto broker.
This move is part of Kraken’s strategy to expand its presence in Europe. BCM, founded in 2017, offers services for buying, selling, and staking cryptocurrencies, with access to over 170 digital currencies.
The acquisition will allow Kraken to strengthen its foothold in the Netherlands while providing BCM’s clients with access to Kraken’s extensive product offerings, high liquidity, strong security measures, and round-the-clock customer support.
Kraken’s CEO, David Ripley, expressed “The Netherlands has one of the world’s most advanced economies, with a well-established culture of innovation and a high level of crypto adoption. This makes it a key market for us in our European expansion plans.”
Kraken’s decision to expand in Europe aligns with the European Commission’s regulatory framework for crypto assets (MiCA), which promotes industry growth while ensuring consumer access to competitive crypto products and services.
The acquisition of BCM by Kraken reflects the cryptocurrency exchange’s strategic move to tap into the thriving European market, fueled by the region’s growing interest in digital assets and favorable regulatory developments.