Key Takeaways
- Kraken’s acquisition of BCM enhances its VASP capabilities in France and Poland.
- BCM clients will be able to access over 200 digital assets and enhanced security.
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Kraken announced Tuesday it has completed the acquisition of Coin Meester B.V. (BCM), one of the most respected registered crypto brokers in the Netherlands. The move is expected to help bolster the firm’s presence in Europe, especially as the Markets in Crypto-Assets Regulation (MiCA) is implemented.
“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 significantly grow our market share in the years ahead,” Brian Gahan, Kraken Managing Director Europe, stated.
The plan to acquire BCM was first unveiled last October, but the specific financial details of the transaction were undisclosed.
With BCM’s acquisition now being completed, Kraken can offer VASP services directly or through partnerships in several 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 capitalizing on the region’s increasing adoption of crypto services.
Kraken believes that the European crypto market will consolidate in the coming years due to rising costs and competition. The firm plans to grow its market share in Europe by leveraging its global…
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