Originally published on: September 24, 2024
Kraken, a leading crypto exchange, is making big moves in Europe with its recent acquisition of Coin Meester (BCM), one of the oldest crypto broker firms in the Netherlands. This strategic acquisition has allowed Kraken to establish a stronger presence in the Dutch market and obtain a registered virtual asset service provider (VASP) license in France and Poland.
Brian Gahan, Kraken’s managing director for Europe, sees this acquisition as a significant milestone in the exchange’s European expansion efforts. With the full implementation of the Markets in Crypto-Assets (MiCA) bill approaching, Kraken has been ramping up its presence in Europe over the past two years to comply with the upcoming regulatory framework.
The European crypto market is evolving rapidly, and Kraken is positioning itself to capitalize on the growing competition and potential consolidation in the industry. By offering regulated VASP services in key European countries like Germany, Spain, Italy, Belgium, Ireland, France, Poland, and the Netherlands, Kraken aims to increase its market share and solidify its position as a top crypto exchange in the region.
The implementation of the MiCA bill will mark a pivotal moment in crypto regulation, making the European Union the first jurisdiction with a comprehensive regulatory framework for digital assets. This favorable regulatory environment has also attracted other major players in the crypto industry, such as Coinbase, which recently selected Ireland as its European hub.
With the European crypto market heating up and regulatory clarity on the horizon, Kraken’s expansion in Europe is set to propel the exchange to new heights. As the competition intensifies and consolidation looms, Kraken is poised to emerge as a dominant force in the European crypto landscape.
