Kraken accelerates in Europe with acquisition of Dutch crypto-broker BCM

Kraken has just signed a agreement to make theacquisition from BCMa crypto broker based in Netherlands. L’American exchange wishes to expand in Europe following the adoption of MiCA.

The pioneering cryptocurrency exchange platform Kraken announced on Thursday that it had signed an agreement to acquire Coin Meester B.Vbetter known as BCM.

Subject to regulatory approval, the transaction will enable Kraken to strengthen its presence in the Netherlands and, more generally, on the European continent. The amount of the transaction has not been disclosed.

The Netherlands has one of the most advanced economies in the world, 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,” said David Ripley, Kraken’s new CEO, in a statement.

Founded in 2017, BCM offers a platform for buying Bitcoin and other crypto-currencies. The crypto broker, which is registered in the Netherlands but also in France as PSAN, also offers a staking service.

Our customers will benefit from all that crypto has to offer thanks to Kraken’s continued investment and innovation,” said BCM co-founder Mitchell Zandwijken.

Kraken has made the decision to focus on new markets, including the UK.Europefollowing the US regulators’ crackdown on digital assets. Last month, the Californian company obtained an e-money license in Ireland and a crypto registration in Spain.

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According to Kraken, the European MiCA regulatory framework, which comes into force next year, enables players in this new industry “to invest with confidence in the region and provide consumers with access to more competitive products and services”.

The European crypto services market is highly fragmented and we see significant consolidation opportunities to strengthen our position in the region,” Ripley concluded.

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