United States-based cryptocurrency exchange Kraken has unveiled its plans to acquire Netherlands-based cryptocurrency exchange Coin Meester B.V. (BCM), signaling a robust expansion into the European market. The announcement follows closely on the heels of the European Union rolling out its Markets in Crypto-Assets (MiCA) regulatory framework, which sets a structured legal context for crypto businesses across the member states.<\/span><\/p>\n Having secured virtual asset service provider (VASP) <\/span>licenses to operate <\/span><\/a>in Ireland, Italy, and Spain, Kraken now focuses on the Netherlands, a nation recognized for its sturdy economy and notable cryptocurrency adoption. David Ripley, CEO of Kraken, underscored the Netherlands\u2019 innovative culture and the strength of its economy as pivotal reasons for establishing a foothold in the country through the acquisition of BCM. He <\/span>emphasized that this acquisition<\/span><\/a> would fortify Kraken\u2019s position in the Dutch market and enhance BCM\u2019s product offerings, benefiting its existing clientele.<\/span><\/p>\n <\/p>\n Mitchell Zandwijken, BCM\u2019s co-founder and CEO, expressed optimism about the future under Kraken\u2019s stewardship, citing the latter\u2019s pioneering status and a commendable track record in the cryptocurrency domain over a decade. BCM, established in 2017 and recently rebranded from Bitcoin Meester, provides a platform for cryptocurrency trading and staking services, offering access to over 170 cryptocurrencies. Registered as a Dutch cryptocurrency service provider with De Nederlandsche Bank, the country\u2019s central bank, BCM aligns itself with regulatory compliance.<\/span><\/p>\n <\/p>\n While the deal\u2019s financial details remain undisclosed, both companies have clarified that the acquisition is subject to regulatory approval, necessitating clearance from the Dutch central bank. This move by Kraken comes amidst a period of significant activity in the cryptocurrency market, with the<\/span> exchange recently recording<\/span><\/a> a substantial influx of 14,924 Bitcoin, the largest since 2018.<\/span><\/p>\n Read Also:<\/b> Crypto Exchange Gemini Suspends Services In Netherlands<\/span><\/a><\/p>\n <\/p>\n <\/p>\n \u2713 Share:<\/p>\nKraken Targets Netherlands with BCM Acquisition<\/strong><\/h2>\n
Dutch Central Bank to Assess Kraken<\/strong><\/h2>\n
![\"coingape\"](\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\"){kind=logo}
![\"\"](\"https:\/\/secure.gravatar.com\/avatar\/31bfe6e557ba2e32092c8ab3818cacc3?s=200&d=mm&r=g\"\/)
![\"\"](\"https:\/\/secure.gravatar.com\/avatar\/31bfe6e557ba2e32092c8ab3818cacc3?s=200&d=mm&r=g\")