Key Takeaways
- Kraken’s acquisition of BCM enhances its VASP capabilities in France and Poland.
- BCM shoppers will be capable of entry over 200 digital belongings and enhanced safety.
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Kraken introduced Tuesday it has accomplished the acquisition of Coin Meester B.V. (BCM), one of the crucial revered registered crypto brokers within the Netherlands. The transfer is anticipated to assist bolster the agency’s presence in Europe, particularly because the Markets in Crypto-Belongings Regulation (MiCA) is applied.
“The completion of the BCM acquisition is a key milestone in our European enlargement, permitting us to leverage our robust footprint and market-leading place in euro quantity and liquidity to considerably develop our market share within the years forward,” Brian Gahan, Kraken Managing Director Europe, acknowledged.
The plan to accumulate BCM was first unveiled final October, however the particular monetary particulars of the transaction have been undisclosed.
With BCM’s acquisition now being accomplished, Kraken can supply VASP companies immediately or via partnerships in a number of European international locations, together with Germany, Spain, Italy, the Netherlands, Belgium, Eire, France, and Poland.
The deal demonstrates Kraken’s dedication to rising its enterprise in Europe and capitalizing on the area’s growing adoption of crypto companies.
Kraken believes that the European crypto market will consolidate within the coming years resulting from rising prices and competitors. The agency plans to develop its market share in Europe by leveraging its international scale and product choices.
Kraken’s acquisition of BCM not solely expands its geographical footprint but additionally enhances its product choices. The agency mentioned that BCM shoppers will quickly have entry to over 200 digital belongings, top-tier liquidity, and high-standard safety measures, together with 24/7/365 dwell, local-language consumer assist.
“We’re one of many only a few in Europe that may mix international scale with a compliant providing and a superior consumer expertise. Our shoppers stand to learn as we empower them with the premium buying and selling and investing experiences wanted to unlock crypto’s full potential,” Gahan mentioned.
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