Kraken has acquired Dutch brokerage BCM as part of its European expansion
Kraken has made another strategic acquisition to support its expansion across Europe.
The crypto exchange has announced the closing of the acquisition of Coin Meester (BCM), one of the oldest registered crypto brokerage firms in the Netherlands.
With the acquisition, Kraken is now expanding its Dutch footprint and business with a Virtual Value Service Provider (VASP) license in France and Poland.
Kraken Europe Managing Director Brian Grahan said the acquisition is a key milestone in Kraken's European expansion efforts. Grahan wrote in a September 24 announcement:
“We are one of the few in Europe that can combine world class with compliant delivery and superior customer experience. Our clients will benefit when we empower them with the premium trading and investment experiences needed to unlock the full potential of crypto.”
Kraken found BCM. Source: Kraken
The acquisition comes shortly before the full implementation of the Markets in Crypto-Assets (MiCA) Bill, the crypto industry's first comprehensive regulatory framework that will come into full force on December 30.
Related: History of Crypto: The future of crypto exchanges, regulatory battles and governance
This is a developing story, and more information will be added as it becomes available.
