Kraken Acquires Coin Meester B.V.

Kraken has completed its acquisition of Coin Meester B.V. (BCM), one of the oldest registered crypto brokers in the Netherlands.

Objectives of the Acquisition

The acquisition aims to expand the US-based exchange’s presence in the Netherlands and strengthen its operations as a registered Virtual Asset Service Provider (VASP) in France and Poland.

Over the past two years, Kraken has accelerated its expansion in Europe, particularly in anticipation of the Markets in Crypto-Assets Regulation (MiCA). In a blog post, Kraken’s Managing Director in Europe, Brian Gahan, stated that this acquisition marks a “key milestone” in Kraken’s European expansion strategy.

Expanded Services

After this acquisition, Kraken will be able to offer VASP services directly or through partnerships in Germany, Spain, Italy, the Netherlands, Belgium, Ireland, France, and Poland.

Gahan noted, “We are one of the very few in Europe that can combine global scale with a compliant offering and a superior client experience. Our clients stand to benefit as we empower them with the premium trading and investing experiences needed to unlock crypto’s full potential.”

In the coming months, BCM clients will gain access to Kraken’s diverse range of products, which includes over 200 digital products and 24/7 customer support in local languages.

It is important to note that on June 30, MiCA became partially applicable for crypto asset service providers and their KYC/AML requirements. Full compliance with the new regulatory framework will be mandatory by December 2024.