Kraken Ramps Up European Presence by Buying BCM, Elevates Crypto Providing

Kraken has announced the completion of its acquisition of
Coin Meester B.V. (BCM) today (Tuesday). This acquisition is a part of Kraken’s
strategy to grow in Europe.

With BCM, one of the oldest registered crypto brokers in the
Netherlands, Kraken has expanded its presence in the Dutch market. This move
also strengthens Kraken’s operations as a registered Virtual Asset Service
Provider (VASP) in France and Poland.

VASP Services Available across Europe

In the past two years, Kraken has accelerated its expansion
across Europe. This growth comes ahead of the implementation of the Markets in
Crypto-Assets Regulation.

As a result of this expansion, Kraken can now offer
VASP services directly or through partnerships in several countries, including
Germany, Spain, Italy, the Netherlands, Belgium, Ireland, France, and Poland.

The European crypto market is fragmented. Increasing costs
and rising competition are expected to lead to consolidation in the coming
years. Kraken aims to increase its market share by utilizing its global scale
and comprehensive product offerings.

We’re happy to share the close of the BCM acquisition! The deal significantly boosts our Dutch footprint and gives us registered operations in France and Poland. Read more here ⬇️ https://t.co/GoCIWEqrbD

— Kraken Exchange (@krakenfx) September 24, 2024

Meanwhile, Kraken has expanded its sports partnerships,
becoming the Official Crypto and Web3 Partner for Tottenham
Hotspur and Atlético
de Madrid. As reported by Finance
Magnates, both clubs will feature Kraken as the Official Sleeve Partner for
their men’s and women’s teams starting in the 2024 season.

BCM Clients Access Kraken Products

According to the firm, in the coming months, clients of BCM will have access to
Kraken’s product range. This includes more than 200 digital assets, leading
liquidity, high security standards, and 24/7 customer support in local
languages.

“We are one of the very few in Europe that can combine
global scale with a compliant offering and a superior client experience,” said
Brian Gahan, Kraken Managing Director Europe.”

“Our clients stand to benefit as we empower them with the
premium trading and investing experiences needed to unlock crypto’s full
potential.”

This article was written by Tareq Sikder at www.financemagnates.com.



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