Key Takeaways
- Kraken’s acquisition of BCM will strengthen its VASP capabilities in France and Poland.
- BCM purchasers could have entry to over 200 digital belongings and enhanced safety.
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Kraken Announced The corporate accomplished the acquisition of Coin Meester BV (BCM), one of the vital extremely regarded registered cryptocurrency brokers within the Netherlands, on Tuesday. The transfer is predicted to assist the corporate develop its presence in Europe, particularly because the Digital Asset Markets Regulation (MiCA) comes into impact.
“The completion of the BCM acquisition marks an essential milestone in our European enlargement, permitting us to leverage our sturdy basis and market-leading place in euro volumes and liquidity to considerably increase our market share over the approaching years,” mentioned Brian Gahan, Kraken’s European managing director.
The plan to accumulate BCM was initially Published The corporate introduced the acquisition in October final yr, however monetary particulars of the transaction weren’t disclosed.
With the completion of the BCM acquisition, Kraken will have the ability to provide VASP companies immediately or via partnerships in a number of European international locations, together with Germany, Spain, Italy, the Netherlands, Belgium, Eire, France and Poland.
The deal indicators Kraken’s dedication to increasing its operations in Europe and capitalizing on the rising adoption of cryptocurrency companies within the area.
Kraken believes rising prices and elevated competitors will result in consolidation within the European cryptocurrency market over the subsequent few years, and the corporate plans to leverage its world scale and product portfolio to develop its market share in Europe.
Kraken’s acquisition of BCM not solely expands its geographic attain, but additionally strengthens its product providing: the corporate says BCM purchasers will quickly have entry to over 200 digital belongings, top-tier liquidity, excessive requirements of safety, and 24/7 stay buyer help of their native language.
“We’re one of many few firms in Europe that may mix world scale with compliance and a fantastic buyer expertise. We profit our purchasers by providing them the premium buying and selling and funding expertise they should notice the total potential of cryptocurrencies,” Gahan mentioned.
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