Kraken strengthens European business with completion of BCM acquisition
Today we announced the completion of the acquisition of Coin Meester BV (BCM), a key element of our European growth strategy.
With the acquisition of BCM, one of the oldest and most respected registered cryptocurrency brokers in the Netherlands, we have significantly expanded our Dutch presence and strengthened our business through registered virtual asset service providers (VASPs) in France and Poland.1
Over the past two years, we have accelerated our expansion in Europe ahead of the implementation of the Markets in Cryptocurrency Asset Regulations (MiCA). We can now offer VASP services directly or through partnerships in Germany, Spain, Italy, the Netherlands and Belgium.2 Ireland, France, Poland.
The European market is highly fragmented, and increasing competition and rising costs are expected to drive consolidation in the coming years. We plan to increase our market share by leveraging our global scale and best-in-class product offering.
Brian Gahan of Kraken said: “Completing the acquisition of BCM is a key milestone in our European expansion, which will allow us to leverage our strong presence and market-leading position in euro trading volume and liquidity to significantly increase our market share going forward. “It came to be,” he said. Managing Director, Europe.
“We are one of the few companies in Europe that can combine global scale with compliant products and an outstanding customer experience. Our clients will benefit by providing the premium trading and investment experience they need to unlock the full potential of cryptocurrencies.”
Over the coming months, BCM customers will benefit from a broad product offering with access to more than 200 digital assets, market-leading liquidity, superior security standards, and 24/7 live local language customer support. .
In recent years, Kraken has strengthened its core product offering and expanded its product line, following a strategy to become a bridge to the most exciting cryptocurrency spaces. Kraken customers will benefit from the Kraken Pro trading interface for advanced traders and the new consumer web user experience.
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1 BCM is registered as a virtual asset service provider in the Netherlands, France and Poland.
2 Kraken serves Belgium through a virtual asset service provider registered in Ireland.
These materials are provided for general information purposes only and do not constitute investment advice or a recommendation or solicitation to buy, sell, own any cryptocurrency, or engage in any particular trading strategy. Kraken makes no representations or warranties of any kind, express or implied, as to the accuracy, completeness, timeliness, suitability or validity of such information and will not be liable for any errors, omissions, delays or losses in this information. Injury or damage resulting from display or use. Kraken does not and will not seek to increase or decrease the price of any particular cryptocurrency it offers. Some 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.
