Kraken launches virtual asset service provider (VASP) service in Belgium

Kraken has launched VASP services in Belgium using EU subsidiaries registered with the VASP regimes in Ireland, Spain and Italy.

This launch reinforces Kraken’s ongoing commitment to maintaining strong anti-money laundering and compliance standards in Europe. It also further highlights Kraken’s commitment to advancing cryptocurrency adoption across Europe now and in the future.

“We are delighted to announce another major landmark in our European expansion journey. This launch allows us to continue delivering on our mission and educate more Belgians about the transformative impact of cryptocurrency technology,” said Brian Gahan, Managing Director, Europe. “We believe in providing a compliant trading experience backed by industry-leading client service, strong security protocols, and a market-leading position in liquidity and volume for EUR cryptocurrency pairs.”

Tracking cryptocurrency adoption in Belgium:

• More than 40% of people under 35 already own cryptocurrency.
• There are about 70 cryptocurrency and blockchain startups in Belgium.
• Christophe De Beukelaer, a member of the Belgian Parliament, has agreed to receive his salary in Bitcoin (BTC) in 2022.

With the Belgian launch and expanded European presence, Kraken is strengthening its commitment to Belgian customers and improving its ability to access a wide range of cryptocurrencies.

In September 2023, Kraken announced that it had received approval from the Central Bank of Ireland as an Electronic Money Institution (EMI). This will allow Kraken to work with European banks to expand EUR fiat services to customers across 27 EU member states and European Economic Area countries.

These materials are provided for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell, stake or hold any cryptocurrency or to engage in any particular trading strategy. Kraken makes no effort to increase the value of the cryptocurrency you purchase. Cryptocurrency products and markets are unregulated, and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the cryptocurrency market may result in loss of funds. Taxes may be payable on the appreciation and/or reporting of your cryptocurrency assets and you should seek independent advice on your tax position. Geographic restrictions may apply.