This strategic move expands Kraken’s operations across Europe, granting it a license to operate as a registered VASP in both France and Poland.
Kraken has made another strategic acquisition to accelerate the company’s expansion throughout Europe.
Kraken Acquires BCM
The cryptocurrency exchange has announced the completion of its acquisition of Coin Meester (BCM), one of the oldest licensed cryptocurrency broker firms in the Netherlands.
As a result of the acquisition, the exchange is now expanding its business and footprint in the Netherlands by obtaining a license to operate as a registered virtual asset service provider (VASP) in both France and Poland.
Brian Grahan, the managing director for Europe has stated that the acquisition marks a significant milestone in the company’s efforts to expand its presence in Europe.
The acquisition coincides with the full implementation of the Markets in Crypto-Assets (MiCA) bill, the first comprehensive regulatory framework for the cryptocurrency industry, set to take full effect on December 30.
Graham made this statement on September 24:
“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 crypto’s full potential.”
