In a strategic maneuver, US-based cryptocurrency exchange Kraken eyes the fertile grounds of Europe, marking its anticipated terrain with the acquisition of Netherlands-based exchange Coin Meester B.V. (BCM). The deal, veiled in financial secrecy, unfurls against the backdrop of the European Union’s recent ushering in of the Markets in Crypto-Assets (MiCA) regulatory framework.
Kraken isn’t a newcomer to the European markets, with its talons already embedded in Ireland, Italy, and Spain, thanks to its virtual asset service provider licenses. The acquisition of BCM is a testament to Kraken’s unyielding gaze on European dominion. The Dutch economy’s vigor, coupled with a thriving culture of cryptocurrency adoption and innovation, has made the Netherlands a promising outpost for Kraken’s expansion.
As per Kraken CEO David Ripley, the incorporation of BCM isn’t just a conquest but a symbiotic amalgamation where BCM’s clientele stands to reap the benefits of an augmented product suite, weaving the pioneering spirit and decade-long expertise of Kraken into the fabric of BCM’s offerings.
BCM, having shed its former identity of Bitcoin Meester, radiates the novelty of its rebranding into the acquisition. Founded in 2017, BCM isn’t just a trading platform but a realm where staking services and access to over 170 cryptocurrencies converge.
Mitchell Zandwijken, BCM’s co-founder and CEO, heralds Kraken as a sentinel of BCM’s future journey, with BCM’s clientele poised on the brink of an era marked by innovative leaps and fortified offerings, courtesy of Kraken’s infusion.
As the pendulum of approval swings in the court of regulatory authorities, including the Dutch central bank, the crypto world watches with bated breath, anticipating the ripples of this acquisition in the expansive waters of the European cryptocurrency landscape.
