Kraken completes acquisition of BCM to expand European operations
Key receivers
Kraken's acquisition of BCM will expand its VASP capabilities in France and Poland. BCM customers have access to over 200 digital assets and enhanced security.
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Kraken announced on Tuesday that it has completed the acquisition of Coin Meester BV (BCM), one of the most respected crypto brokers in the Netherlands. The move is expected to help strengthen the company's presence in Europe, especially with the implementation of the Markets in Crypto-Assets Regulation (MiCA).
“The completion of the BCM acquisition is a key milestone in our European expansion, allowing us to leverage our strong footprint and market-leading position in euro volume and liquidity to grow our market share over the coming years,” said Brian Gahan, Kraken Managing Director Europe.
The plan to acquire BCM was first announced last October, but specific financial details of the transaction were not disclosed.
With the acquisition of BCM now complete, Kraken will be able to offer VASP services directly or through partnerships in various European countries, including Germany, Spain, Italy, the Netherlands, Belgium, Ireland, France and Poland.
The deal demonstrates Kraken's commitment to growing its business in Europe and leverages the region's growing portfolio of crypto services.
Kraken believes that the European crypto market will strengthen in the coming years due to increasing costs and competition. The company plans to leverage its international standing and product offerings to increase its market share in Europe.
Kraken's acquisition of BCM will not only expand its geographic footprint but also improve its product offerings. The firm says BCM customers will soon have access to more than 200 digital assets, high levels of liquidity and high-level security measures with 24/7/365 live, local-language customer support.
“We are one of the very few in Europe that can combine world class with compliant delivery and superior customer experience. Our customers will benefit as we empower them with the premium trading and investment flows needed to unlock the full potential of crypto,” said Gahan.
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